What you need to think about before your Will appointment
Making a Will is one of the most important steps in securing your legacy and ensuring your loved ones are taken care of. Before your appointment with a solicitor, it’s essential to prepare so that your Will accurately reflects your wishes. Here’s what you need to consider:
1. Who Will Be Your Executors?
Your executor is responsible for managing your estate after you pass away. Choose someone trustworthy, organised, and willing to take on the role. You may also want to appoint a backup executor in case your first choice is unable to fulfil the duty.
2. Who Will Inherit Your Assets?
Think about who you want to benefit from your estate – this could be family members, friends, or charities. Consider:
- How you want your assets to be divided
- Whether you want to leave specific gifts (e.g. jewellery, heirlooms)
- What happens if a beneficiary passes away before you?
3. Guardianship for Children
If you have children under 18, you’ll need to appoint legal guardians to care for them in the event of your passing. Choose someone who shares your values and is willing to take on the responsibility.
4. Funeral Wishes
While not legally binding, including your funeral preferences in your Will can help guide your loved ones. Consider whether you prefer burial or cremation, and if you have any specific requests for the service.
5. Inheritance Tax Planning
If your estate exceeds the inheritance tax threshold, you may want to explore ways to minimise tax liabilities. Your solicitor can advise on strategies such as gifting assets or setting up trusts.
6. Addressing Potential Disputes
If you anticipate family disagreements over your estate, consider writing a letter of wishes to explain your decisions. This can help prevent disputes and ensure your intentions are clear.
7. Preparing Documents
What you need to bring to the initial appointment:
- Details of your assets e.g. property, bank accounts, pensions and investments
- Existing estate planning documents – Will & Power of Attorneys
- Identification – We will issue a link via email that will provide a code to access the online portal ‘Credas.’ Through this, you will need to upload the 4 required forms of ID, these include:
- Current Valid Passport
- Current Valid Driving Licence
- Bank Statement (dated within the last 3 months)
- Utility Bill (dated within the last 3 months)
How we can help
Taking the time to prepare for your Will appointment ensures a smoother process and helps us draft a document that truly reflects your wishes. If you’re unsure about any aspect, we can guide you through it. Speak to our experienced Private Client team today on 01525 378177 or email info@ommlaw.co.uk.
