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Writing Your Will? Important Things You Need To Consider

Thinking about what will happen when you die isn’t one of the happiest conversations that you will have, but it will be one of the most important. Having a will in place is essential, as it can guarantee peace of mind for your loved ones after you pass. It’s an important part of planning for the future – especially for those who have a family to take care of.

The UK law states that anyone over the age of 18 is eligible to write their will, which means it’s even more frightening that more than half of the UK population will die without one in place.

As solicitors in North London, we have experts in the field who will be more than happy to assist you with anything to do with the subject of will writing. To get you thinking about yours, we have put together some of the important things you need to consider when it comes to making yours.

You should make a list of everything you own & decide where it is going

You should make a list of all of your assets. This means writing down everything that you own, so that you can have a clear picture of what you have and the net worth of everything. This will include noting down:

  • Houses you own
  • Land you own
  • Shares/Bonds
  • Bank accounts
  • Building society accounts
  • Any other money
  • Possessions such as jewellery, vehicles or antiques of value

Once you have a list of everything, you need to carefully consider where everything is going. How do you want things separated? Do you want them shared fairly? Not considering this in your will can lead to a lot of unnecessary arguments after you have died.

 Are you married or just living with partner?

If you die without having a will in place, your partner won’t be entitled to anything if you are not married. You could be leaving them with nothing – including leaving them without a home to live in. If you want to leave property to your partner, you should let your solicitor know. They will be able to draw something up, so that your partner is secure if anything was to happen to you.

Do you have children? Who would become their guardian?

It’s not nice to think about, but having a guardian in place for your children is one of the most essential parts of writing a will. If something was to happen to both you and your spouse, wouldn’t you want to make sure that your children will be properly looked after? After you have asked this person, you can then declare it in your will.

Do you want your money released straight away?

A lot of people choose to specify that their money shouldn’t be released until their children are a certain age. Instead, they ask for it to be put in a trust fund until they turn 18 or even 21. This is so they can guarantee that their children will be receiving the best start into adult life.

 

If you have any specific enquiries or questions about writing your will, please don’t hesitate to contact us. Our team of experienced and professional Wills and Probate Solicitors will be happy to help in any way they can, including making an appointment for you to come and discuss getting your will legally written.

Just give us a call on 020 8534 8008 and a member of our team will be happy to help.