Simple Wills
A Will is a binding legal document that sets out your wishes regarding how you wish for your estate to be distributed after you pass away. In the absence of a Will, the Law governs who your estate passes to, which may not be in line with your wishes. Your estate in the absence of a Will would pass under the Intestacy Rules.
A simple will allows you to choose:
- Who you wish to deal with your estate after your death, your chosen person(s) would be appointed as an executor. It is important to ensure that you appoint someone that you trust implicitly as it will be their responsibility to collect in your estate, pay off any liabilities and then distribute your estate to your named beneficiaries. You should also consider appointing a replacement executor in the event that your chosen executor predeceases you or is unable to act for any reason.
- Your funeral wishes in your Will, for example if you wish to be buried or cremated. This part of your Will however is not binding as your Will may not be read in time hence it is important to let your close family and friends know of such wish.
- Who looks after your children. If you have minor children, you can appoint Guardians and replacement Guardians in your Will stating who you wish to take care of your children should they be minors at the time of your death.
- Who you wish to benefit from your estate and how much you wish for them to receive. You should also consider stating replacement beneficiaries in your Will in case your named beneficiaries predecease you.
Your Will must be executed (signed) in a specific way, in the presence of independent witnesses, to be valid.
It is important to ensure that you seek professional legal advice when making a Will to ensure that you are advised fully regarding your instructions and that your Will is drafted and signed in a way that is valid.
Find out more about Wills here.
Find out more about Wills, Trusts and Probate here.
