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Write a list of all your assets and liabilities to estimate the value of your estate. This will also help you to assess if you need further advice on inheritance tax planning (IHT) if your total estate is above the IHT threshold.
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Write a list of all the people (including full names and addresses) you would like to benefit from your Will plus any charities.
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Decide on a particular solicitor or bank to draw up your Will. We can’t stress how important it is to have your Will made properly by a solicitor or perhaps your bank. Just ask if they have a Will-making service and adviser.
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Choose an executor for your Will. You will need at least one person. They will be responsible for making sure your Will is carried out. You can choose a solicitor, bank manager or accountant. However, they may charge you a fee. Instead, you could ask a family member or close friend.
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To be legally binding, your Will must be signed in the presence of two witnesses, who must then sign it themselves. They or their spouses must not be beneficiaries.
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Keep your Will safe. One good way of doing this is to entrust it to your solicitor or bank manager. Some people send a copy to the beneficiary charity for their records in case the original is lost or disputed.
