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Tuesday, April 16, 2024

Strategies for Creating a Well-Structured Will

If you want to write a will (and you should), it’s going to make things a lot easier for everyone left behind, and it’s going to give huge peace of mind once it’s done, though it can be hard to know exactly where to start.

After all, even if you’re not around anymore, helping others after you’ve gone is a kind and thoughtful thing to do. Plus, since you won’t have to think about your will again unless something changes and you need to make some amendments, once it’s done, you can store it safely and forget all about it, rather than having it hanging over you.

With this in mind, here are some useful strategies for creating a well-structured will to help you get started.

Get Professional Help

Writing a will can be very simple and consist of just a few lines about what you want to happen to your estate. However, wills can also be rather complex, especially if you’ve got children and stepchildren, a business, or multiple homes, and so on. Rather than making a mistake and missing something important out or forgetting to do something like sign the will or find witnesses, the best thing to do is to get professional help.

This help can come in a variety of ways, from solicitors who’ll charge you money to write the whole thing for you, to Macmillan’s online will services which are free. You need to explore all the options to decide what’s best for you, and whether you want the will written by someone else or just checked over, for example. No matter what, getting help is always a good idea, just in case.

Know What You’ve Got

However you intend to write your will or whoever you want to help you, you’ll need to know what you’ve got, otherwise it’s going to be impossible to know whether you’ve included everything. Even a small mistake can hold things up for months or even years, and in the meantime, the people you wanted to inherit will have to wait, which could cause all kinds of problems and stress.

This is why, when you start to write a will, you’ll need to take an inventory of what you’ve got and what you own. Of course, the amount of money you have between writing the will and when you die will probably change, and the value of any properties or businesses will too, so you might not be able to use exact figures, but you can talk about each asset, and that’s just as important.

Appoint An Executor

A will without an executor isn’t a very useful document at all, as there will be no one to make sure that everything’s followed and that each beneficiary gets what they’re due. So, when you’re writing your will, you’ll need to write down who you want to be your executor, and you’ll need to check that they’re happy to take on the job as well, as it’s time-consuming and complicated at times.  

The best person to ask is someone who has the time to dedicate to getting things done quickly and efficiently, and whos organised and capable. It’s also wise to have a backup executor just in case your original one is unable to do the job when the time comes.



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