It's often tempting to put off making a Will, but if you die without leaving a Will your estate is subject to the rules of intestacy under which:-

• Your whole estate may not go to your surviving spouse or civil partner - they may have to share it with your children, parents or siblings
• If you are living together but not married/in a civil partnership and die intestate your partner will not automatically benefit

If you make a Will you take control of your own affairs:-

• You choose who will act as your executors and administer your estate
• You choose who will inherit and on what terms
• You have the chance to plan in a tax efficient way for the benefit of your family
• You can appoint guardians for your children's welfare
• You can make provision for a second family if you have one
• If you have business interests you can make proper provision for them
• You can include trusts to provide flexible inheritance
• You can delay children's inheritance beyond 18
• You can include rights of occupation in a house

Issues to consider before you make a Will

• What's the likely overall value of your estate? -  This determines if your estate will be liable for Inheritance Tax
• Who would you like to appoint as executors to your Will?
• Do you wish to be buried or cremated?
• Do you want to leave gifts of money and specific items?
• Do you want to make arrangements for children under 18?
• What do you want to do with your "residuary estate" - that's everything left after any specific gifts
• Do you want to provide for alternative residuary beneficiaries if those you appoint die before you?

Requirements for Executors in making a Will

These are the people appointed to administer your affairs after death and they have to be expressly appointed within your Will:-

• You can appoint as many executors as you want but a maximum of four will be authorised to act at any one time
• In practice, four is the sensible maximum
• In theory, one is enough but problems can arise if the executor dies or is ill
• In straightforward cases, trusted relatives or family friends are suitable
• Make sure your executors have agreed to act
• If  the estate is complex or there are potential family disputes, it may be sensible to appoint a professional executor 
• Nelsons can act as professional executors and make no charge for this appointment

Burial or cremation?

Guardians for your children?

• To allow for both parents dying at the same time, you should specify one or more people to act as a guardian for your children
• You should agree details with the other parent, and make sure you have the agreement of the people you are appointing as guardians

After Making Your Will

• Nelsons will store it safely for you free of charge
• We will remind you every five years of the need to review your Will
• Make sure your executors and any other relevant close family members know where your Will is stored

Please contact us to discuss how we can help you make a Will that meets your particular requirements.