5 tips on how to write a good Will

Top 5 tips – how to write a Will

First of all, stop wondering about whether you need a Will. You do. Even if you are single and childless. Perhaps especially if you are single and childless because if you have no surviving relatives your estate will go to the Crown. If you don't leave a Will, you can cause untold difficulties for your survivors. So, since you do need a Will, here are some tips on how to end up with one that best complies with your wishes.

1. Draft your Will carefully

If you have a very simple estate, you can write your own Will using a legal form that you can pick up at your stationers store. But if your estate is at all complex, then hiring a professional to draw up the Will for you cannot only save legal fees after your death that could result from a poorly written DIY Will, but perhaps more importantly ensure that your wishes are exactly carried out. If you go down the DIY route, follow instructions precisely and be very careful in the drafting of the Will.

2. Choose executors wisely

Choose executors who are up to the demanding task of executing a Will, particularly if there are large sums of money involved. Always ask these people if they mind taking on the role so there are no surprises. Go ahead and appoint a substitute or default executor. If you have a spouse, you may want him or her to be the executor. However, if the two of you died, say, in an accident, you would need someone else to execute the Will. Always have a fall-back position in the event that your spouse is not able to act on your behalf.

3. Plan ahead for your children

Appoint guardians for children who are under 18. If this is not in place, and they are left with no living parent, a guardian will be appointed by the courts. If you and your partner are not married and have children, this can cause complications as the remaining parent may not always automatically receive guardianship of the children. You and your partner should appoint each other as guardians to avoid this problem. If your Will sets up a trust, or if you should die leaving minors, you will need to appoint trustees. They are the ones to manage and invest money and property until it can pass to the beneficiaries.

4. Think about the residue

Account for what is left over in your estate after you specify who gets certain legacies. These "leftovers" are known as "residue" and you must specify to whom this goes or you will have a partial intestacy in the Will. If this is the case, then the laws of intestacy will govern who receives the residue.

5. Take care of your Will

Sign your Will and store it in a proper storage facility. Your executors will be given a certificate specifying where your Will is stored and how to obtain it after your death. Be sure that your Last Will and Testament has specific instructions related to the type of funeral you would like, as well as specifications for the future care of pets.