Knowing what you need to include in your will can be difficult and yet this is important.
If you missing key information out, you might find that your wishes are not respected and that the people that you love do not benefit from your will as much as they could. Here are some of the elements that you need to include in your will for it to be comprehensive.
Your Beneficiaries
Most importantly, you should ensure that you have noted down all of your potential beneficiaries and what you would like them to have. This includes any dependents that you have, who could contest the will in question if you do not include them. You should make sure that any spouse or children that you have are included, as well as relatives, friends and charities that you want to give a gift to. This will prevent your money from simply passing to your next of kin on your deathbed.
Your Assets
You also need to make sure that any assets that you have are included in your will and that you do not forget to mention any of them. These could include your home, your savings and your pensions, as well as any heirlooms or investments that you have. Then, you will be able to divide them up as you see fit. If you own any assets jointly, these will automatically become the property of the other owner unless you give your half to someone else.
Your Executors
To make sure that your will is handled correctly on your death, you should note down your executors within your will. These executors will take charge of organising your will upon your death. These executors could be family members, your spouse, or a solicitor. By noting these down, you will be able to ensure that your last testament will be in the hands of someone that you trust.
Your Funeral Arrangements
You should also make a note of any funeral arrangements that you have in mind. This will mean that you can have a say over your own funeral and that your relatives can host a funeral for you that matches your vision for it and your personality. You might also leave behind a funeral fund that can help your loved ones to pay for it. Your will should also include anything else that you want to happen after your death. If you are struggling to note these down yourself or make sense of them, you should consider using Macmillan’s free online will service, which can be useful for those who have been diagnosed with cancer.
The Future of Your Pets and Children
If you have pets or children, you should also write down what you want to happen to them after your death, including who you want them to live with. You might set a guardian for your furry friends and kids. However, you should make sure that the guardian in question has agreed to this before you make their guardianship official. You might also set up a trust for them that is managed by an older member of the family and that they can access once they reach a certain age, such as 18 or 21.
By knowing what you need to include in a will in advance, you will be able to relax in the knowledge that you have created a foolproof testament that leaves no gaps or loopholes. This is also important if you are planning to write the will yourself, and especially if you are going to be passing your will writing onto a solicitor, who will need to know essential information about what you want your will to look like and who you want it to benefit. This will ensure that you will be able to create a will that precisely mirrors your wishes for the future.
Georgina Monk
Since leaving university with an English and Creative Writing degree, Georgina has worked as a freelance copywriter, writing articles on everything from business technology to charitable giving. As well as running her own blog and performing in and writing plays, some of which have been staged in local theatres, she also volunteers at historical houses and enjoys watersports and getting out into nature.
