It’s important for every adult to make a Will, only then can we ensure our loved ones are provided for once we’ve gone and that all of our wishes are carried out. Otherwise, loved ones may be left with legal and financial problems to sort out at a time when they are least able to deal with it.
Making a Will does not need to be complicated. The following steps will guide you through the process. If you have any questions, we are here to answer them. Use this guide together with our Simple Will Planner to note down key information about your assets and wishes, then send it to us and we will draft your Will for you.
1. Choose The Executor(s)
An Executor is a person, who you would like to administer your Will, i.e. someone who will ensure your wishes are carried out . You can choose a partner, close friend, a solicitor, another professional such as an accountant or perhaps a charity. We suggest you choose two executors, but you can have up to four if appropriate. There is no restriction on Executors also being beneficiaries from your Will.
2. Choose Guardians For Your Children
This can often be the stumbling block for parents and the reason why Wills aren’t completed. It is a serious matter and you must choose carefully and also discuss it with the people you choose. However, in reality the chances that both parents will die at the same time is extremely unlikely, so don’t let this decision be the reason for not creating a Will.
3. Calculate The Value Of Your Estate
Think about what you own and what you owe. Make a note of your assets and calculate their approximate value. Then look at your debts, e.g. mortgage, car loan etc. The value of your estate will be your assets minus any outstanding money owed.
4. Decide Who To Leave Your Estate To
How do you want to leave it? Make a note of who you would like to receive your estate. You may want to leave it all to your spouse/partner or perhaps divide it up between them and your children and friends or perhaps a charity. There’s no limit to the number of different gifts you can make. We can help you to ensure the right wording is used to ensure your gifts are interpreted exactly as you want.
5. Discuss Your Will With Routh Clarke
Send us the completed Simple Will planner and we will discuss your instructions and advise on how best to word the Will. If you do not have an executor, we can also arrange this for you. If your estate is large, we will also advise you whether you need to make additional arrangements for tax planning and will discuss any associated costs.
6. Approve your Will
Once drafted, we will send your Will to you to look over for approval. At this point we can make any changes, so you are completely happy with the document. Once finalised you will need to sign it in the presence of two witnesses at the same time. Please also be aware that the witnesses can not be beneficiaries in your Will.
7. Keep Your Will In A Safe Place
You can keep your Will at home or we are able to hold it for you for a small charge. We keep copies of all Wills we help draft, but generally the original is stored elsewhere. It is vital if you do keep the original, that your family knows where it is, lost Wills can cause severe problems later. Some people choose to store it in a sealed envelope, so they know it can’t be read until needed.