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Why a Will is so important

Writing a Will is one of the most important decisions you will ever make. What’s more, it’s a lot more affordable and straightforward than you may think.

You may want a Will that ensures your assets and possessions are left to those you love when you are no longer here. Or you might have a favourite charity that you would like to leave a donation to.

Your Will allows you to:

  • Reduce the burden on the loved ones you leave behind
  • Protect any assets you may have and help reduce the impact that inheritance tax and residential care fees can have upon your estate; protecting your assets for your loved ones.
  •   Ensure that all your assets are dealt with correctly, with debts paid and items going to the people you wish to receive them.

 

Use a local Solicitor or Will Writer

There are many providers available and by getting your Will professionally written, you are ensuring that everything is covered and arranged as you would like it to be.

Before you visit a solicitor

You may have a rough idea what any property you own is worth, but many people underestimate the value of their possessions.Try and make a list of everything that you own, as well as
everything you owe.

Think about who your beneficiaries will be. Which relatives and friends might you want to benefit and could you consider including a bequest to MDVS to support our work in helping people to live safer lives?

You need to appoint executors. Ideally, you should have at least two executors but you can have up to four. These people are named in your Will and will be responsible for ensuring that your wishes are respected and implemented.

An executor can be a member of your family or a friend. You can also ask a solicitor, accountant or bank to be your executor, all of whom will charge a fee for administering your estate.

Will writing jargon buster