What does a will involve?
If you are not sure what a will is, it’s a legal declaration from one person which states who is to inherit their belongings, including their property and estate, once they die. Whatever you detail within a will can be carried out by those assigned to be left in charge and it gives you a chance to offer and provide for those you love: be it a family member or a close friend.
What do I need to know when creating a will?
The rules and regulations vary for writing a will depending on where you live in the world, although within the UK, you can write one from the age of 18. The term testator is given to the person who actually writes the will. If you have little experience in this area then you might choose to work with a lawyer to complete the will, or alternatively if you understand what is required, you can look to write it yourself. Either way, once it has been completed, the testator will be required to sign and date it.
Witnesses and executors
However, it’s no good just signing the will on your own, as you are required to have two witnesses present at the time of signing to verify that this has been completed. You are not allowed to use anyone who will be a beneficiary from the will and instead you must select two people who are not included or involved with the final outcome.
Within the will, an executor will also be detailed, whose responsibility is to make sure that all of the wished expressed in the document are carried out as stated. The will shall dictate who is entitled to what and the executor will then have to divide the assets such as property and money as outlined. Most wills will also detail a second executor should the first person not be available for whatever reason.
When does the executor take on this responsibility?
The will is reviewed to determine if it is valid once the testator had passed away. During this period, one of the two witnesses will also be contacted to sign a proof of witness document. After the will is accepted, the executor then has to make sure that all of the requests within the will are met.
Essentially, these are the basics you need to be aware of when it comes to understanding what is involved with the process of writing a will. As stated above, if you don’t feel very confident about the whole process, then it might be wise to use a lawyer in order to complete a will that you are satisfied with. If you have written one a long time ago then you do have the option to update it should you want to do so.
For more advice on probate and wills you can look on the Internet or ask friends who may have already completed their own. It’s not a complex task and although it can sometimes be difficult to start one, it’s important you write a will for the future.