Taking those first few steps to considering your will are the most difficult. We are all keenly aware of what a will signifies, and it’s often one of the last areas of our lives we wish to confront – whether on a practical or emotional level.
Unfortunately, those who don’t have a will could cause significant issues for loved one’s already struggling with the grieving process, simply because managing the estate will grow far more complex. It can cause extra emotional stress, and they may not be in the best state of mind to deal with these matters and, as a result, could make decisions they later regret.
The same can be said of those who have a will, but one they drafted with professionals many years ago, and which will be out-of-date and not comprehensive enough to reflect their wishes.
When it comes to creating a will, the only way to ensure that it will offer a genuine aid to your loved ones is by working with a solicitor. While you will no doubt hold your own, personal wishes, an experienced solicitor will be vital to ensuring that you are covering all relevant bases – and that the document is legally valid.
To put you on the right track, however, we have gathered together a list of the five most important items to include within your will. Read more below.
Your property (or properties) will be one of the first thoughts you and your loved ones have when it comes to the will being fulfilled. It no doubt represents your most significant asset – and, in many cases, your loved ones’ home – so it naturally becomes a key concern.
It can be a complicated situation, owing to factors such as joint ownership or mortgages. The solicitor will approach your case respecting its uniqueness, grounded within a far-reaching understanding of the specifics of inheritance law.
Money is, of course, next on the list – and it’s rarely as simple as you might think.
In previous years, there were bank accounts to track – current accounts and savings accounts, etc. However, now, there are more non-traditional models which people use to manage and protect their finances, like e-wallets.
Also, investing in digital assets like Bitcoin, Ethereum, and other cryptocurrencies has rapidly altered the ways in which we review our loved one’s finances. Ensuring that you account for these digital assets is paramount. You can even arrange for what happens with things like digital photos and social media accounts. There is no divide between online and “offline” anymore. It’s all valid.
You will have more to your name than housing properties and finances. There will be personal belongings. You may have specific items – whether they hold high sentimental or monetary value – for which you may have something in mind. These can, and should, be detailed.
The loved ones you look after – children, pets – could need to be accounted for. Ensuring you have a plan in mind for their wellbeing – for instance, who will look after them – will give you and them peace of mind.
Your Funeral Instructions
While some of us feel a strong sense of indifference toward our own funerals, putting together a number of instructions can offer both an emotional and a practical support to your loved ones. These are, after all, your final requests, and your loved ones could find some comfort from being able to fulfil them on your behalf.