Fact Sheet on making a WillMaking a will enables you to ensure that your partner and/or family are saved unnecessary stress and hardship at what will be a very difficult time for them.
If you do not make a Will your possessions may not be distributed as you would have wished and in some instances all or part of your estate could go to the Crown.
Without a Will your estate may take a long time to resolve and your dependants may be left without any means of support during this time.
So how do you go about making a will?.
It is sensible to consult a solicitor to have your Will drawn up and to ensure it is legally correct.
Some of the most frequently asked questions are...
Q Who will administer my estate?
This can be your partner, friend, relative or solicitor they would be called your Executor.
Q Can I alter my Will at any time?
Yes you can amend or change your will at any time after you have made it.
Q If my circumstances change at any time e.g. I get married, I have children (or more children) I get divorced or I have used some of the money I proposed to leave to certain people or a person who would have inherited has passed away. What should I do?
If your circumstances change in any way it is essential that you should update your Will to take account of your change of circumstances or wishes.
Q Should my Will include arrangements for my funeral?
Yes, it should include whether you wish to be buried or cremated, which is a decision that is important for your dependants.
Q Who will keep the Will once it is drawn up?
If you draw up a Will with a solicitor you will receive a draft copy for your approval. Once approved a final copy of the will is then drawn up for you to sign and have witnessed.
Here at D K Macbryde & Co we will put your Will in safe keeping at no extra charge. However you should inform a relative or your executor of the location of the Will.
So what do I do next?Think about what you want to happen to your estate in the event of your death
Make a note of these wishes.
If you wish to use a solicitor to draw up your Will , then make an appointment and explain exactly what your wishes are. Your solicitor will then include these wishes in your completed Will.
WHILST MAKING A WILL YOU MAY ALSO WISH TO CONSIDER SEEKING ADVICE ON ENDURING POWER OF ATTORNEY.
This makes arrangements if you fall ill and are not able to look after your own financial affairs. Once made, it can be put away and only used if it becomes necessary, but you should inform the person whom you have nominated to look after your affairs.
Here at D K Macbryde we can retain this document in safe custody on your behalf free of charge.
You may also wish to seek advice on Inheritance Tax which may be due on your estate in the event of your death.