When deciding to write a Will, there are quite a few things to consider to make sure you are covering everything required in the Will.
Here is our 7 point checklist we recommend you follow;
These are all things to price up to and get a value on. You might own all of the above, and more or you might have one or two.
Whatever the number you need to consider them all when calculating the value of your estate.
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Make a full list of everybody you want to leave your estate too. The list can be as long or as short as you like, this is a personal decision.
So you have your list it's now time to allocate your estate to them.
The decision is completely yours. Remember though, once it's on the Will and unless you change it the executives of your Will, will allocate accordingly so make sure you are happy with the final version.
These are known as the 'executors'. These are the people who are responsible will read out your Will and inform the people who have been left something of value.
They could be a friend or a family member, a solicitor or an accountant.
We have written extensively about the costs of a Will, and the different types of Wills.
You could choose a Will writing company or a solicitor, or you could write the Will yourself.
Depending on the complex nature of your estate and financial affairs, we would recommend using a Will writing company or a solicitor.
You can never have enough copies in safe places.
Your Will is an incredibly important document. But remember, life does change. Maybe your estate has increased in value, perhaps some investments have changed, or you have purchased or sold a property.
So, whatever your circumstances it is worth reviewing your Will every 4-5 years to make sure everything is covered.
Here at Money Savings Advice, we have partnered with one of the UK’s leading Will-writing companies, and they are members of The Society of Will Writers, and they have already helped thousands of our readers get the right Will in place.
Choosing an independent adviser means they won’t recommend a scheme unless they are sure it is in your best interests. Their advice is also regulated by the FCA, which gives you an additional layer of protection.
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