Writing a final will is a difficult process for many reasons. The person writing it may be ill and unable to do so, there are many moral and legal issues involved that the person may not be aware of, and it is a depressing subject to contemplate. It is best to contact a lawyer and have someone with experience and technical knowledge write your will.
Regardless, if you want to do it yourself, you should do so to ensure your loved ones are taken care of even after you’re gone. Here are some simple steps that you should bear in mind when writing your final will:
- Mention both your full given name and your address. Your address is there to ensure that even if there is someone else with your name, the will can be identified as yours. Even if you subsequently move houses, the mentioned address can be verified through records and there will be no confusion about the validity of the final will. Including your birth date and National Insurance number is also a good idea.
- Identify your mental state and ability very clearly. To ensure that your will is not challenged by someone who is not benefiting from it, make sure you mention that you are of sound mind and body. Otherwise, your final will can be challenged in court on the grounds that you were not of sound mind and it is thus invalid.
- Clearly state that the existence of this will negates all those that you have made prior to it. This includes all wills and codicils.
- Select an executor who will act as a personal representative and will ensure your instructions are carried out and will manage your estate following your death. Choose someone you trust completely and someone you feel is honest and wise and will follow your wishes to the best of their ability. Any person over the age of 18 is eligible.
- Give your estate the power to pay off all your debts, funeral expenses, taxes and administration expenses so that your heirs and beneficiaries are not embroiled in problems or debates about who is responsible for paying your debts.
- Give your executor the power to lease, pledge, mortgage or sell any property you may have a stake in or own at the time of your death. List the personal effects that will be bequeathed to your beneficiaries.
- List the division of your assets in percentages and make sure the entire amount adds up to 100%.
- Mention stipulations of what is to happen if one of your beneficiaries dies before you. For instance if it is your step-sister, include the name of the beneficiary that is to receive her share should she pass before you. If the second beneficiary passes before you and your first beneficiary, then the grant lapses.
- A residuary clause will take account of anything not disposed of and will bequeath it to any person you specify as being a residual beneficiary.
- Name an alternative executor should anything happen to the first, and you can specify that the first executor posts bond to guarantee their dedication.
- Make sure you sign accurately and in the presence of witnesses as is specified in the law. These witnesses cannot be beneficiaries of your estate. You should add an initial to each page of your final will, and must ensure that you store it safely.
Leave a Reply