legal & financial
TOP TIPS FOR MAKING A WILL
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Alexine Moran, an Associate in the Private Client department at GOUGHS SOLICITORS, gives her top tips on making a Will.
part from the usual considerations to have when making a Will, such as choosing trustworthy Executors, Trustees and guardians, ensuring you have replacement Executors and Trustees, it is important to also be aware of the less common factors. Top tips for making a Will: 1. Select who is drafting your Will carefully It’s always better that a professional drafts your Will. That way you will be advised to your individual circumstances, whilst ensuring the Will is executed (signed) in the required format. If it is not it can be deemed invalid and consequently, if there is no prior Will to turn to, your estate will fall under the intestacy rules (and may not reach your intended individuals).
Associate Private Client Solicitor Alexine Moran
explanation, making it easier for everyone to understand why the Will has been prepared the way that it has.
3. Aware of an illness – things to consider When one is not well, or is diagnosed "When one is not well it with an illness, it often prompts a often prompts a person person to review their affairs, and preparing a Will is often a part to review their affairs, and preparing a Will is of that. If the illness could affect the functioning of your mind, for often a part of that." instance, Alzheimer’s or Dementia, it is advisable to have a professional 2. Make your wishes known mental capacity assessment prepared If you have made a provision in your to confirm capacity for making a Will. Will, for example, leaving your estate in unequal shares to beneficiaries, i.e. It will serve as a supporting document children, it may cause upset. When a to your Will and would be very helpful loved one has passed away, emotions should a Will ever be questioned can run high, and some may react in or challenged (in circumstance as a way that is not expected. Therefore, outlined above). Will disputes are on the rise and the more you can it’s always advisable to leave a letter support your reasoning the better. with your Will explaining why it has been drafted in the manner that 4. Store your Will in a safe place it has and explaining the rationale Always store your Will in a safe place, behind it. The letter could offer an 70 THEWESTWILTSMAGAZINE
such as a safe, or often the popular choice is at a solicitor’s office in a strong room. It follows that you should have a copy of your Will amongst your paperwork at home, clearly showing where the original is being stored so that when the time comes it makes it easy for your Will to be located. 5. Review your Will every 3-5 years Where possible, try to review your Will every 3-5 years, or if your circumstances have changed, as your new situation may not be in line with the provisions of your Will. Lastly, should you marry, be aware that a marriage revokes a Will and, again, if there is no previous Will to turn to, your estate will fall under the intestacy rules. For more information, or to make or amend a Will, contact Goughs Solicitors on info@goughs.co.uk. • goughs.co.uk
