Planning a will is something that can feel rather scary. After all, you’re creating a document that will be used when you’re no longer here, and when it’s all broken down, it can be difficult to decide who gets what, or even if those nearest and dearest to you get anything at all.
Luckily, planning a will isn’t too hard, and here, you’ll be walked through how to do it with minimal stress.
Decide Who Gets What
One of the hardest parts of estate planning is deciding who in your family gets what. However, by doing this and setting it out clearly, you can ensure that everyone you care about gets left something, and even though you won’t be around, there won’t be any arguments about your inheritance when you pass away.
If you pass away without making a will, the rules of intestacy apply, which means that your estate will pass to your partner, your oldest child, or your siblings, and so on. So, if you’ve adopted a child or have stepchildren that you want to leave something to, you really need to get your will drawn up.
Choose an Executor
Next, you need to choose who’s going to be your executor and responsible for planning the funeral, ensuring that everyone gets their inheritance, and paying off any debts. If you don’t want that burden hanging over your loved ones just after you’ve gone, you can get a solicitor to oversee this role for you.
Select a Guardian (if applicable)
Many people start to write their wills after they’ve had children. So, if you have a young child or family and want to get your will out of the way, you may want to name a guardian who would care for them if you weren’t around. Even if they have a godparent, this won’t hold up legally if you and your partner were to pass away. In fact, for those with younger children, selecting a guardian is one thing that’ll give you real peace of mind.
Seek Legal Help
Everyone has seen the adverts online or on TV trying to sell will kits. This is usually ok, but if you have extended family, extensive assets, or other things that need to be legally considered, then it’s well worth getting legal help when writing your will. Many specialist firms or solicitors/lawyers can help you create a will that’s legally binding and will also ensure that your wishes are met.
Store it Safely
When you’ve made your will, you’ll need to store it safely and make sure your immediate family (as well as your executor) know where it is. In the digital age, many people opt for having a digital copy on a USB or saved to a computer, as well as a physical copy. For those who’ve chosen a firm or a lawyer to write their will, there’s usually the option for the legal team to hold it until the person passes away. This way, there’s a copy ready to go that won’t get lost.
