FREQUENTLY ASKED QUESTIONS - CONVENTIONAL WILL
What information do I need to make a Will?
- Make a list of financial assets (e.g. property, savings, investments, life insurance) and any liabilities (e.g. mortgage, loans).
- Have names and addresses of people you may want to include in your Will as beneficiaries, executors / trustees and guardians.
- Think about who you want to benefit from your estate and whether there are specific gifts of your personal possessions you would like to make.
I’m married – will my spouse get everything even if I don’t make a Will?
Not necessarily. Under the current intestacy rules, it depends on the size of your estate and whether you have any children.
Intestacy causes delays and complexity. For families with children, the division of assets can create co-ownership problems and an Inheritance Tax liability. Making a Will protects your family from this.
Where should I store my Will?
Your Will is an important document that needs to be kept safe. If it is lost or tampered with by others this could create problems at Probate and your wishes may not be carried out. We offer a secure storage service to give you peace of mind.
- Make a list of financial assets (e.g. property, savings, investments, life insurance) and any liabilities (e.g. mortgage, loans).
- Have names and addresses of people you may want to include in your Will as beneficiaries, executors / trustees and guardians.
- Think about who you want to benefit from your estate and whether there are specific gifts of your personal possessions you would like to make.
What is considered a legally binding Will?
A legally binding Will must fulfill the following requirements :
- The testator (the one who makes a will) must have attained age of 18 years old and above when writing the will.
- The testator must be sound minded when making the will.