Creating a will is one of the most important steps you can take to ensure that your wishes are carried out after your passing and that your loved ones are cared for. Although perhaps a morbid subject to confront, it is important to take the time to consider what you would want to include in your will so that you can rest assured that things are in hand when your day eventually comes. Below, our family law solicitors have outlined some key elements that you should consider when drafting your will so that you can make well informed decisions on what is most important for you to include.
The Essentials of a Will
A well-crafted will should address several critical aspects to ensure that it is valid and legally enforceable. These elements include:
1. Personal Information
You need to be clearly and unambiguously identified in the will, so it will need to begin with your basic personal details, such as your full name legal name including any middle names, address, and date of birth, to clearly identify you as the testator.
2. Testamentary Intent
Your will should also contain a clear statement of your intent to create a legally binding will. This ensures your document is recognized as your final wishes.
3. Executors
Appoint an executor (or multiple executors) to manage your estate and carry out your instructions after you have passed. Make sure you think carefully about who would be best placed to be an executor as your executors are legally responsible for making sure that the will is followed. Executors can be beneficiaries, but they cannot act as witnesses. Executors can also be professionals (such as solicitors) but they will normally charge for this service.
4. Guardianship for Minors
If you have children under 18, you can choose to name a guardian to care for them in the event of your passing before they turn 18. Bear in mind however that you should to confirm the guardian’s willingness to carry out this responsibility beforehand to avoid any complications. Asking someone to be a guardian is no small request, so try to make sure it is someone who you trust and who will be most likely to readily accept your request.
5. Bequests and Legacies
Make sure you specify clearly within your will exactly how you want your assets to be distributed after you have passed. This includes:
- Specific Legacies: Items such as family heirlooms, properties, or sentimental keepsakes for designated individuals.
- Residual Estate: Any remaining assets after debts, taxes, and specific legacies are distributed.
6. Trusts
It is also possible to establish trusts for minor children or dependents so that you can ensure financial support is available to them under specific conditions, such as reaching a certain age or milestone. This is also a key point to cover if this applies to you.
7. Funeral Instructions
Finally, you can also include general wishes about your final arrangements in your will should you wish to. It is recommended, however, to leave funeral instructions in a separate document for quicker access as wills first have to go through probate and a court settlement process before they can be carried out.
Creating a will is a vital part of estate planning, but it is not a one-size-fits-all document and so the above should be taken into consideration along with your own specific circumstances to draft something that effectively meets your personal requirements. Take ample time to consider what is appropriate to include and exclude and don’t hesitate to seek professional advice to ensure your will is legally sound and reflects your wishes accurately. Want to speak to a solicitor about your will or another private family matter? Don’t hesitate to call us today on 020 7100 6100 to book in an initial consultation and find out more about how our expert family law solicitors can help.
