Things to think about
Here are some considerations you may want to think about when you are planning your Will.
What is the value of your estate?
You will need to calculate the current value of everything you own. This could include property, money, personal possessions and such things as cars. You will then need to look at your debts including your mortgage/s, loans, overdrafts, any credit or extended purchase agreements and take this figure away from the overall value of your property etc.
Who do you want to leave a gift to?
Within your Will, a ‘Gift' could be anything you own or could be a specific item/s, a cash amount/s, or a percentage share of your estate. When you are happy that all the members of your family and friends who you want to remember in your Will have been taken care of, if you decide you would like a charity to benefit, all you will is the charity's full name and registered charity number.
Children
If you have children under the age of 18, you'll need to decide who will look after them if you die. You can also provide for your pets in your will.
Who will be responsible for handling your affairs?
This responsibility is usually shared between two or more people and these Executors, as they are known, have the role of carrying out the wishes you have put down in your Will. They can be professionals, friends, family members or a mixture.
What funeral arrangements do you want?
If you know how you would like this to be carried out, this is your opportunity to put it in writing - it could help your family and friends to know this in their time of grief.
