Making a Will ensures your family is cared for after your death...

"What should I include in my Will?"

A Will is a written record of your instructions as to   how   your assets (everything you own) are to be   distributed when you die.  You will have the opportunity    to appoint people to look after your affairs and your    children.  These people are known as Executors,   Trustee's and Guardians.

Executors - The role of an Executor is to register the   death, administer the estate including applying for   probate and to carry out any wishes detailed in your   Will.  If you are a couple arranging a Mirror Will (joint   Wills), you would normally appoint each other as sole   Executor's and appoint 'reserve' Executors should you   both die.  You may legally appoint as many people as you wish, however only four can act at any one time.

Trustee's -  The Trustee's role is to manage and look after your assets on behalf of your chosen beneficiaries, often young children. It is an important role. Your Trustee's may be given powers to advance monies in the Trust to pay for the welfare and education of your children, until they are old enough to inherit your estate.  Again, only four people can act at any one time.  It is common to appoint people as 'joint' Executor and Trustee.

Guardians - Should both you and your spouse or partner die, the appointment of Guardians (to take over parental responsibility) is often the most important aspect of a Will.  You may also appoint 'reserve' Guardians, who will take over if your chosen Guardians die before you or are unwilling or unable to carry out their duties.

If you feel your estate is particulary complex, you may appoint professional Executors and Trustee's to act on your behalf. This can become expensive however. The alternative is to appoint family and friends and give them the option of employing professional help at the time if they feel they require it.

Your Will can also be used for such things as reducing a potential Inheritance Tax liability or protecting your home against the effects of Long Term Care .  Please take the time to look at our specialist pages in these areas for further details.