When you choose our wills and probate solicitors to help with your will, the process becomes much easier. It’s always good to have formal documentation in place to make sure your assets are divided as you wish, otherwise your estate will be divided according to intestacy. If you own a property or business, have children or have savings, it’s important to create this legal document to ensure that your assets go to whomever you wish.
Here are a few things to get ready before writing this document.
Wills & Probate Solicitors
It is possible to make this legal document yourself, but this is only recommended if it is going to be a straightforward process. There is lots of room for error, so you must be cautious. You should definitely seek legal advice if your circumstances are a bit more complicated. For example, if you share a property with someone whom you aren’t married to; if you have dependants who can’t care for themselves; or if you own a business overseas. If there are any mistakes, it could deem the document invalid and your wishes may not be fulfilled. So, get in touch with wills and probate solicitors if you’re thinking about writing one.
Assets & Recipients
Making a list of all your assets is essential when organising for wills and probate solicitors. You can list things such as properties, any personal items/chattels, vehicles, investments, bonds, money in bank accounts, and even businesses. You may also want to list what will happen to your pets!
Once you’ve listed your assets, you need to outline whom you would like these to go to, or what is going to happen to them. Make sure you’re confident in your decision. You may also need to outline what would happen if these beneficiaries pass away prior to your death. Perhaps you would prefer to leave assets to a charity that means a lot to you. In this case, it will need to be listed correctly, which experienced wills and probate solicitors will ensure.
Extras & Executors
As well as dividing out your assets, will and probate solicitors will be able to take down any extra details you may want to record. If you have children, naming their legal guardian can be recorded on this document. Also, if there’s a trust fund for them, this can also be outlined. Other details can also be included in this document. For example, a lot of people like to detail wishes for their funeral to ensure they get the send off they want.
You will also need to choose people to carry out your wishes if they are willing to take on this responsibility. These are your ‘executors’ and could even be a professional person, such as your wills and probate solicitors.
Keeping It Up To Date
If you have written the document, you should review it every five years to ensure it still presents accurate information. This is especially important if there’s a change of circumstances. For example, if you get married during this time, this would automatically cancel out any existing will. Also, if you get divorced this could impact the beneficiaries. You should also revisit the document if you gain another asset like an extra property or new car.
Contact Blackfriars Law For Quality Wills & Probate Solicitors
For reliable and quality lawyers, get in touch with our team. We’ve only touched upon some of the points here, but we can talk you through each step of the process, so you don’t need to worry.