What to Consider When Writing a Will

Posted on: November 18, 2019

will writing tipsMost people don’t want to think about a world in which they don’t exist but her at Bees and Co we are well aware of the importance of ensuring that your wishes are carried out and finances left in order upon your passing.  We provide a Cheltenham wills and probate service that means you can discuss the particulars of your will in the comfort of your home.

Here is our list of factors to consider in preparation for your meeting:

 

 

  1. Who do you want to benefit from your estate?

In the case of couples this may simply be that you wish to leave your estate to your partner. However, you may want to consider what would happen when you have children and whether there are any close friends or even charities that you want to benefit from your estate.

  1. What assets do you have?

Before you can start thinking about how you want to divide your assets between your chosen individuals it is important to have a list of these and how much they are worth. This will include everything from your property, savings, pension, any business assets that you may have, investments as well as any precious items and family heirlooms.

  1. Splitting your assets

Dividing up your assets to your chosen individuals can be done in a number of different ways and this will include leaving a specific amount, a particular item or perhaps a percentage of your estate or property value. We can help advise you on whether you need to consider placing items into trust for your family based on the amount they are worth. Trusts are often put in place for property. A husband for example may leave the property to his wife but stipulate that upon her death his half of the property is left to his children.

  1. Will my estate be subject to Inheritance Tax?

This will depend very much on the total amount of your estate and who you are leaving your estate to. We can discuss the implications of inheritance tax with you during our meeting.

Once you have thought about the items above and scheduled a meeting with ourselves we can have your will drawn up. After this it is important to discuss your will with your spouse, partner and any executors of your will.

For more information about our wills and probate services click here.