6 things to think about before your will writing appointment
Preparing to write your will involves a bit of time and brain power!
You need to think long term and carefully consider how you’d like to deal with your most important assets and record your wishes for protecting those you love after you have gone.
In the days leading up to your appointment have a really hard think about:
1. Funeral wishes – one of the first questions your family will be asked is whether you are to be buried or cremated; making that decision now will make it easier for your loved ones when the time comes.
2. Guardianship of children – who would you want to look after your children if both their parents had gone? Think practically about who would be the most appropriate guardian – where would you want them to live? What about school?
3. Assets – what will need to be dealt with when you’re gone in terms of properties, cash, investments, shares, policies or pensions? Speaking as a solicitor it’d be really helpful if you could jot down an approximate value of each asset and make a note of any outstanding mortgage or loan against them.
4. Cherished Things – are there any family heirlooms you want to safeguard or ensure they pass to a certain loved one?
5. Executors – they are appointed by you to carry out your final wishes as outlined in your will. When you die, your executor becomes responsible for managing your estate which is a huge responsibility so think carefully as to who you want to appoint.
6. Beneficiaries – think about the persons, charities or organisations that you wish to benefit from your will; do you wish to leave cash legacies to anyone in particular or to a particular group or charity?
Also, after any debts, funeral expenses and testamentary expenses have been paid, who do you want the rest of your estate to pass to? And in what shares/percentages? What provisions would you like to make in case any of those people die before you?