With 67% of UK adults not having a valid will, is this because people assume it’s a daunting task? We can assure you, it’s an easy experience. Here is a checklist of information you gather, before protecting your estate!

Your estate details

Make a list of your significant assets you will want to leave to loved ones. This can include houses, vehicles, and family businesses, and then work your way down to smaller items like jewellery or family heirlooms.

When listing your assets, remember that you can only distribute property that is owned solely in your name. That is, if you are married and your spouse holds joint title on an asset, you cannot leave that property to someone else in your will.

Make a list of all of your debts, including but not limited to the following:

• Mortgage
• Car loans/leases
• Credit cards
• Student loans
• Personal loans
• Outstanding taxes

Beneficiaries 

A beneficiary is someone named in your Will who will inherit the share you leave to them. I would advise you make a provision for the share to pass to, if the original person wasn’t around to inherit their share. 

You can list that the share would pass to the survivors in the Will, or to their children if they have children or to another person/people.

You may need to think of an age of your beneficiaries to inherit. A common age is 18, 21, 25 before any complex trusts are set up.

Executors 

An executor is someone who you appointment in a Will should you pass away, their roles are to arrange your funeral, apply for probate if required and wind down your estate in relation to your wishes in your Will. You have one, two or three+ executors if you wish. They can act on their own or alongside another party. This choice is up to you.

Trustees

A Trustee is someone who you appointment in a Will should you pass away, they look after a beneficiaries share of inheritance, their roles are to look after their funds in relation to your wishes in your Will. You have one, two or three+ trustees if you wish. They can act on their own or alongside another party. This choice is up to you.

Guardians

If you have minor children, your will is the perfect place to name a guardian for them should their other parent be unable to care for them for whatever reason (including if both parents die at the same time).

You can also consider how you want to provide for the care of your children; you may want to leave someone else in charge of property they will inherit until the children reach the age of majority.

Gifts

Do you have any family heirlooms you wish to leave to anyone? In your Will is a great place to state where you would like specific items to be left.