Let’s face it: Writing a will can be a pretty grim prospect. This grim little after-thought can prove to be the most important official document that you leave behind, however, a point that is ever more important when children are involved. With DIY wills now pricing under the £20 mark there is no excuse to avoid biting the bullet and getting one done. Here are 4 simple tips you need to know:
Destroy Any Old Wills
The first thing to remember is to destroy your old will. I mean, think about it, you’re not still into Boyzone and you don’t wear the same clothes you did a decade ago. So don’t let your old, out of fashion and no-longer-relevant Will trump your new one. Get rid of it.
Name A Guardian
By naming a guardian you explicitly state who should look after your children in the event of your death. Failure to do so means you have no direct say in who will take responsibility for your kids and it will be up to the courts to step in and appoint whomever they deem to be the best person for the job. And when you’re gone, there’s nothing you can do to change the outcome.
Name an Executor
Your executor is the person who will carry out your wishes in the case of your death. This could be a sibling, your spouse, or an incredibly close friend; just make sure it is somebody that you know you can trust and is sure to get stuff done. They will eventually be responsible for settling any unpaid taxes or debts, and overseeing the distribution of your assets.
Draw up a Living Will
Whilst drawing up the rest of the document, our final tip is to consider long and hard about what would happen should you suddenly lose the capacity to be responsible for both yourself and your children. In this case, a process needs to be in place to regulate what will occur – something referred to as a Living Will. This will appoint a person to handle your affairs for you, as well as providing instructions regarding end-of-life considerations (such as artificial respiration).
A will can be a relatively straight-forward document. They do not need to be long, drawn-out and convoluted. As long as the information contained is direct, relevant and officially presented, your wishes will be followed when you’re no longer around to supervise them. For more information, contact Coles Probate Services for an independent evaluation of your individual circumstances.