ow to make a Will? Well, that question triggers off both technical and practical issues to consider. Here, we look at some of the practicalities to consider. These include the types of things that you should give careful thought to whether you are making your Will yourself or having it made professionally.

When we think about how to make our Will the chief thought is that we are making this Will because it is essential for each of us to get things in order for our loved ones for when we pass on. The easiest way is to look at why you should have a Will and what briefly look at what happens if you do not have one. These are called the intestacy rules.

An executor will carry out your wishes as stated in your Will. He or she will have to gather together all our documentation and carry out all of the legal requirements needed to start “administering” your Will. This simply means carrying out the instructions in the Will.

It is important to consider who you want as your Executor. Thinking of using a bank or a solicitor? That is quite a natural thought but experience shows that they can be very expensive and not necessarily the speediest way of getting things done. Administering a Will is really not difficult and you can obtain a great deal of help from the Probate Office who you will find most efficient and understanding.

You can quite simply choose a family member to be the executor and they should be able to carry out this function for you quickly and easily. Make sure that you ask them first as it might come as a surprise later on if you do not.

You should also choose someone who is not only willing to carry out this task but who is likely to be alive when they are needed and who is also unlikely to move away before then. An Executor can also be a Beneficiary and you can appoint more than one Executor to work together and share the load, if you wish.

Apart from how to make a Will you should also consider when to make one. First of all, you should make a Will right now if you do not have one, and then revisit it regularly. Review it every five years or so, and whenever circumstances change. Events that trigger a review include when you get married, have children or get divorced. It is also important to know that marriage invalidates any Will made before marriage.

You can decide who should benefit following your demise and this is a key part of how to make a Will. You are said to have died “intestate” if you die with out making a Will. Intestacy rules will then apply to you situation and the loved ones that you believed would receive your assets may receive little or nothing.

If you have young children, you can appoint “guardians” who will be responsible for your children’s care and welfare should neither parent be alive. The Courts or Authorities will choose someone for you if you do not leave a Will, and that well might not be someone you would have chosen yourself.

You should name a person or people that you personally know and trust to look after the assets that you have left to your children until the children become old enough to take responsibility themselves.

Inheritance tax is much less of a problem for many people but there are still plenty of people around who could benefit a great deal by organising their Will properly.
There could well be some opportunities to do some tax planning to reduce Inheritance tax, or how you leave things for others. Take care about leaving things directly to grandchildren to skip a generation. Cases have arisen where a subsequent divorce has split that asset and it has left the family! You can get around this issue by the use of a Trust.

This is a brief introduction on how to make a Will. There are quite a few more things to think about and the best thing to do is start a list and be organised for when you come to get your Will written.

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