So what’s the first step in making your Will?
If the thought of visiting a solicitor’s office makes you queasy, then it can now be done by video link and over the phone.
After taking basic details and a family outline, next is a list of assets – bank accounts, pensions, shares, credit union accounts, prize bonds in a drawer etc.
Do you have property? Is there a mortgage on it? Is there mortgage protection to make sure it will be discharge any outstanding debt at the time of your death?
We don’t need to know amounts or account numbers. It’s really so that, if anything happened in the morning, who needs to be written to and where the assets might be.
Appointing the right executor is key. An executor’s role is to ensure your wishes are carried out. Someone trustworthy, organised and sufficiently robust to withstand questions from beneficiaries is advised.
People are sometimes confused that a person in this position might not benefit from a Will but there is nothing to stop an executor inheriting. Only the witnesses who sign a will are disbarred from inheriting under it.
Download our free booklet on ‘Making a Will’ here and receive a 50-percent discount during November.