6 Things to Consider When Writing a Will

Writing a Will is a vital aspect of estate planning, it allows individuals to clearly express their wishes regarding the distribution of assets and the care of their loved ones after their passing. We understand it can be uncomfortable to think about this while you’re still alive, therefore this article we help you think about things to consider when writing a Will.

Crafting a Will requires careful consideration and understanding of various legal, financial and personal factors. It goes beyond simply listing your assets and beneficiaries. To help you navigate the complex processes, we have created a comprehensive guide outlining six critical factors to consider when writing a Will.

Here are 6 things to consider when writing a Will 

·       What are your assets?

You should take time to carefully consider and write down what assets you wish to include in the Will as well as their values. Assets are considered anything of great monetary or sentimental value, therefore this could include: property, savings, investments and family heirlooms such as grandparents’ jewellery. Once you have considered these, this is very helpful to your solicitor during the early stages of the Will drafting process.

·       Who will benefit from your Will?

You should also carefully consider whom you wish to benefit from your Will. Those you choose will be named as a Beneficiary in the Will. You also need to consider if there should be any special considerations due to their age, vulnerability or other circumstances. For example, you may wish that your children don’t receive any monetary value from the Will until they reach the age of 21.

·       Who do you trust to deal with your estate?

Another aspect you need to consider is who is going to deal with your estate following your passing. These are called Executors and you appoint them to administrate your estate and carry out any wishes within the Will. This role requires complete trust and reliability of the Executor to guarantee that your wishes will be carried out in accordance with your Will. It’s important to note that you are able to appoint a legal professional as your Executor and that all Executors must be over the age of 18.

·       If you have children, do they require a Guardian?

If you have children, specifically those below the age of 18, do they require a Guardian to be named? A Guardian, within a Will, is a named person who will take on the responsibility of raising that child till the age of 18. This decision should be made after careful consideration of the person’s ability to provide a loving and stable environment for your children.

·       Potential claims against your estate

Another factor to consider is the possibility of claims against your estate. While it is unlikely, being aware of potential claims can be beneficial. Taking preventive measures can be important if you suspect someone might try to make a claim against your estate. For instance, if you have not included someone as a beneficiary, they may choose to take legal action to seek a portion of your estate. Provisions can be established to mitigate this risk.

Furthermore, when distributing financial assets to beneficiaries, it can be helpful to create Letters of Wishes. These documents serve as a useful method for minimising potential disputes or challenges to the Will in the future. By clearly outlining your intentions and providing guidance to your beneficiaries, you can reduce the likelihood of disagreements arising down the line.

·       Who will witness the Will and where will it be stored?

Finally, after drafting your Will, it is necessary to have it witnessed by an independent individual who is not related to you or named in the Will. Therefore, careful consideration should be given to selecting an appropriate witness, especially if additional arrangements for their care or travel are required. If you choose to sign your Will at one of our offices, our staff will be available to act as witnesses on your behalf.

Additionally, it is important to consider where your Will will be stored. We strongly recommend selecting a location that is safeguarded against water and fire damage. You have the option to store your Will at one of our offices, or you can keep it at home by purchasing a fireproof sleeve to protect it from potential harm. It is crucial that your Executors can access the Will, so make sure to inform them of its storage location.

While contemplating this topic may be uncomfortable, it is crucial to consider various factors to ensure your Will accurately reflects your intentions. By following the six critical factors outlined in this guide, you can navigate the complexities of crafting a comprehensive and effective Will.

However, it’s important to be aware of common mistakes that can occur during the Will-writing process. These mistakes can lead to unintended consequences, disputes, and legal challenges. In the next section, we will discuss some of the most common mistakes made when writing a Will and provide guidance on how to avoid them.

Common mistakes when writing a Will

To ensure that your Will accurately reflects your intentions and avoids any future disputes or legal challenges, it is crucial to be aware of common mistakes that individuals often make. In this section, we will highlight some of the most common errors made when writing a Will.

• Improper witnessing – two witnesses must be present during the signing process. These witnesses must be at least 18 years old, UK citizens, and not beneficiaries or married to beneficiaries named in the Will.
• Outdated information – Life events such as births, deaths, and marriages can render a Will outdated. It is crucial to regularly review and update your Will to ensure that it accurately reflects your current wishes.
• Failure to name Executors – Executors are responsible for managing the administration of your estate after your passing. Forgetting to name executors in your Will can lead to confusion and delays in the execution of your wishes.
• DIY Will – Opting for a do-it-yourself (DIY) approach to writing your Will can lead to potential issues. DIY Wills may contain incorrect language or fail to follow the proper legal steps, making them invalid.

Avoiding these common mistakes will help you create a legally sound and comprehensive Will that accurately reflects your wishes and provides clarity for your loved ones. It is always advisable to seek professional advice and assistance to ensure that your Will is properly executed and effectively safeguards your assets and intentions.

How can we at Taylor Bracewell help?

At Taylor Bracewell Solicitors, we understand the importance of creating a Will that accurately reflects your wishes and protects your loved ones. Our experienced team of solicitors specialises in estate planning and can provide invaluable guidance throughout the Will-writing process.

Our dedicated Wills team in Doncaster and Sheffield are here to help. You can reach us at 01302 341414 or 0114 272 1884 or through our online enquiry form. Our experienced professionals are available to provide support and guidance, ensuring that every Will is valid.