Clients often ask what they need to consider prior to a Will appointment. Here is a guide to help you prepare:
Executors: Who do you want to carry out your wishes? We would suggest you name at least two people you trust, just in case one person is unable or no longer willing to act as your Executor.
Trustees: Perhaps someone due to inherit from you is underage, or vulnerable, then their share would be placed in a trust. Who would you wish to be responsible for this?
Harold Stock & Co. can be your Executors or Trustees if you wish to choose someone independent, and we can discuss this in more detail with you.
Specific gifts: Is there a particular item you wish to leave to someone e.g. jewellery, a property, a painting, a collection you have. These will pass to the named people before the rest of your estate is dealt with.
Pecuniary gifts: These are gifts of money. You may wish to leave an amount of money to a specific person, people, or a charity, instead of gifting them a share of everything you own. Again these are paid out before the rest of your estate is dealt with.
Residue: Who is to receive the remainder of your estate? You may wish to leave this just to one person or divide this up between several people. You can also put in place substitutes, such as your named person’s child/ren.
Guardians: If you have young children, consider who would you trust to care for them, give them a home, and raise them, if you were sadly no longer around?
Animals: Who would look after your beloved pet? You may choose to help your nominated person by leaving some financial support to help pay for your pet’s food, vet bills and any other expenses.
Funeral: Have you any preferences as to a certain type of service, burial, cremation, your ashes etc? You can give basic details in your Will to help your Executors carry out your wishes.
The full names, and spellings, of everyone you wish to name in your Will will be required. It is also helpful to provide their addresses, as even though people move home from time to time, it is a way of identifying them in the future.
If you are considering making a Will, our friendly Wills and Probate team will guide you through the process, explaining everything in plain English.
For an appointment with one of the team click here https://www.haroldstock.com/contact/
if you prefer call 0330 400 4040 or email info@haroldstock.com
