We thought it would be useful to give a few tips for anybody contemplating using one of the services offered at LegalWills. We tell people that you can create a Will in around 20 minutes, but there are a few simple things that you can do to make the process smoother.
1. Don’t be intimidated. You are simply describing how you would like your estate to be distributed if you were to pass away. In most cases this is a very simple process and you do not need to have any legal knowledge to be able to use our service.
2. Do not procrastinate. It seems that many people wait for that perfect time in their life to prepare a Will, not realizing that a Will can be updated at any time. It is more important to have a Will in place that may need to be changed in a few weeks or months rather than wait until that perfect moment when your life isn’t going to change. Things will happen either to you or to somebody included in your Will and there is a very high likelihood that your Will is going to need to be changed at some point in the future. Write the Will now, and update it when something happens in your life.
3. Think about key appointments. There are two important appointments to be made in a Will. Firstly, you will name an Executor (and an alternate Executor if your first choice is unable to serve). This person will have responsibility to carry out the instructions in the Will. We have described in previous articles how important this appointment is, and talked about the skills and characteristics that need to be possessed by your Executor. Secondly, you may also need to name a guardian for any minor children that you have. Again, we have described some of the considerations that you may think about in naming this person, but it is an appointment that should be made after careful thought.
We also recommend that the appointment of Executor and Guardian should not come as a surprise to somebody. You should discuss these appointments ahead of time with your chosen individuals and make sure that they are prepared to take on the roles.
4. Think about the distribution of your property. This is the why most people write their Last Will and Testament, and it is a good idea to think about this ahead of time. The people who have influenced your life, organizations that you may wish to recognize in your Will, family members, friends. And also think about the assets and possessions that make up your estate and consider how they should best be distributed. Remember of course that the Will can be updated, so if a person or organization makes a profound impression on your life, you can always update your Will to reflect this.
After you have prepared your Will you can add an inventory of assets that can be stored with your Will. At LegalWills.ca, LegalWills.co.uk and USLegalWills.com we have a document specifically to assist your Executor that should be stored with your Will. It helps you to list your personal details and assets including important contact numbers and financial account information. This information typically should not appear in the Will itself as this would require a new Will to be signed and witnessed every time a bank account was changed, but it is an important document that should be stored with the Will.
Once you are clear on the key appointments and the distribution of your property, you are in a great position to start preparing your Will. There is really no need to postpone the task and you really can have your legal Last Will and Testament in your hands in 20 minutes. There is certainly no need to feel intimidated; it is your document, expressing your wishes.