It may seem morbid, but none of us can determine what is going to happen in the future. Whether your possessions are great or small, knowing they will go to the right person when you pass away is important. Unfortunately those close to us have no say in what happens to our homes and possessions if you haven’t written a will, the law will decide who gets what resulting in your loved ones missing out. I’m sure all of us want everything we have worked for throughout our lives to go to those who matter to us; this is why it’s important to ensure we write a will as soon as we have anything to pass down.
Where To Start
Before you even start to go into all the legal stuff you need to consider who should inherit your possessions and why. These decisions are not to be taken lightly and should have careful consideration put into. If you feel comfortable, discus with the people who you are thinking of handing down big things to such as your house or business. Doing so ensures they feel happy to receive it and can handle whatever it is you are passing on.
Once you feel happy with your choices draw up a rough draft and spend a week or so going over it, ask yourself why you’ve decided to give these people these things. Make sure you are happy with your choices.
Seek Legal Advice
Now you have decided who will inherit from you it’s time to seek legal advice. Find a Law firm that specialises in assisting with Wills and one that you feel comfortable with. You can write up your Will yourself but it is advised to avoid any confusion or any upset that you have it written by a professional.
What You May Not Know
There are other things you need consider when writing your will, not just where your money will be going. This includes-
- Appointing guardians- if you are a single parent and have children under the age of 18.
- Appointing Trustees- you will need to do this if you are leaving anything to anyone under 18, the trustee will look after this until the person is old enough to claim it their selves.
- Store your will safely- Once it has been drawn up and signed you will need to ensure it is stored where nothing can destroy it. You can pay to have it stored in a safe storage facility.
Eilidh MacRae is writing on behalf of Davis Gregory Solicitors and would reccomend them for legal advice when writing your will.