This is the final instalment of my Will series and briefly brings together the points I have made in the previous articles.
Revocation – Make sure the Will you write is the Will that everyone knows is the one you wanted to be relied upon. Writing a Will and not dating it can have dire consequences.
Executors – Choose wisely and not always the obvious choices. Will the same people right for the job now be right in 20 years?
Funeral – You can leave this to your family or say exactly what you want; however don’t assume everyone will be on the same page about what you would have wanted.
Children – Create some certainty for your children following tragedy. Think very carefully about who shares your parenting approach and who would work well with others. Equally, how will your children’s upbringing be funded? Your choice may be great with children but terrible with money.
Chattels – If you have an art collection it may be worth thinking about a chattels clause to ensure your family aren’t still sorting (or arguing) 10 years after your death.
Legacies – If two family members admire the same piece of jewellery then this may be the way to ensure there is some clarity about who should get what.
Residuary Estate – Will the provisions you make for your partner be seen as fair or will your children feel left out? Every family is different which is why Wills need to be carefully crafted based on your circumstances.
Due Execution – All this hard work to get the perfect Will and then only one witness means its invalid. Don’t allow procedural errors to leave your family in conflict.
Wills are simple but the possibilities for them to go wrong are endless. Therefore, using a solicitor, like Mundays LLP gives you and your family the best opportunity to ensure a smooth transition following someone’s death.
It’s your Will – make sure it’s right.
If you remain confused by any of the above, then I would suggest contacting Mundays Private Wealth team who will be able to draft a Will to fit your circumstances and advise you further on any particular element you should consider in your Will. If you would like to discuss any concerns you may have with your existing Will or an Estate dispute contact Michael Brierley head of the Trusts, Wills and Probate Disputes team.
The contents of this article are intended as guidance for readers. It can be no substitute for specific advice. Consequently we cannot accept responsibility for this information, errors or matters affected by subsequent changes in the law, or the content of any website referred to in this article. © Mundays LLP.