5 Frequently Asked Questions (FAQ) About Wills

What is a Will?

When executed correctly, a Will is a document which is legally binding and states to whom you wish your assets i.e. property, cash, investments and personal possessions to go to on your death, after the payment of your funeral expenses and liabilities.

What if I don't Make a Will?

Without a Will, on your death, statute will decide who will inherit your estate under the Intestacy Rules. By making a Will you control who your beneficiaries are and in what proportions they will inherit.

What can I put in my Will?

a) you can appoint up to 4 trusted individuals (Executors) to deal with your estate on your death;

b) you can specify your funeral wishes i.e. whether you wish to be buried/cremated;

c) if you have children, under 18, you can appoint guardians to look after them on the death of the last surviving person with parental responsibility;

d) you can make specific gifts of your personal possessions i.e. jewellery;

e) you can make specific cash legacies to individuals or leave a charitable gift;

f) after the payment of any debts, funeral expenses and specific legacies you state who you wish to inherit the remainder of your estate (property, money etc).

What does an Executor do?

The role of an Executor(s) is to collect in full details of all the assets and liabilities in the estate; ensure that all debts are settled before distributing the estate in accordance with the terms of the Will.

Can a Beneficiary act as an Executor?

Yes, as long as they are over the age of 18 there is no reason why they can not act.

In order to make a valid Will you must be over the age of 18 (unless you are a soldier) and understand what you are doing. The Will must be in writing and signed by you in the presence of two independent witnesses, who must also sign the document.

For further information please feel free to contact me.