What you will find in your Will

Executors

Your executor is the person or persons you have personally chosen to carry out the instructions and wishes of your will.

The executors role is to make sure your estate is secure, calculate its value and pay any taxes that may be due. They are also required to gather together all of your assets and make sure all debts are paid ie mortgage outstanding etc. They then can distribute the remainder of your estate ( the residue ) in accordance to the instructions in your will.

• So who can you choose to be your executors ?
• Firstly you must select at least two executors.
• You can select your partner or spouse, and for those preparing joint wills , it is advisable to to do so.
• Beneficiaries of your will can act as executors. Your children for example can act as executors.
• If you are a single person, or have no children then a close relative is normally the next best person, maybe a brother or sister.
• If you are really stuck, a solicitor can act as an executor for you.
• Please remember to first check with your prospective executors that they are in fact willing to take on this role before preparing your will. Explain to them fully what will be required.

Guardians

A legal guardian is the person you have nominated who has legal authority to care for the personal interests of another person.

Within your will, should you name a guardian for your under 18 years old children there role will be to care for the children of the deceased. Choosing a suitable guardian can be difficult and requires a lot of thought. Once again talk this through before hand with those you are considering naming for this role.

Gifts

Within this part of your will you can specify any gifts you wish to leave to any individual, organisation or even charity.

Estate

What is your estate ?

Quite simply your estate is absolutely everything that you own, property,cash, investments and personal belongings.

Once you have named your specific gifts you can then name who inherits the remainder of your estate ( the residue ) and in what proportions. So you may instruct that you leave the residue of your estate to your four children in equal shares equalling 25% each.

Your funeral wishes.

Your wishes concerning how you wish to be disposed of are contained within your will, however they are not legally binding. Should you for example request that you are buried in the centre circle of your favourite football teams pitch, this is unlikely to be allowed.

normally you will choose to opt for burial,cremation or to leave your body to medical science.

For more information on preparing your will visit www.mcwillwriters.co.uk