What should be included in a will To save time and reduce costs when going to a solicitor, you should give some thought to the major points which you want included in your will. This means pulling together a rough total of all your assets: the value of your home minus the mortgage, any other property, any savings accounts, investment accounts or products, and anything else of value.
If someone makes a will but it is not legally valid, on their death their estate will be shared out under certain rules, not according to the wishes expressed in the will.
Nicola explained that ideally we should also write a letter expressing our wishes to the trustees and the kind of things we wanted them to provide for our children.
If you are a couple drawing up will as we were, then you can just leave everything to each other — but what if you are both dead.
The basics are relatively simple Depending on who has written a will, it can look complicated to the point of seeming impenetrable to read, but the basics are quite simple.
They will have to collect together all the assets of the estate, deal with all the paperwork and pay all the debts, taxes, funeral and administration costs out of money in the estate.
In Northern Ireland, you may be able to get help with the legal costs of making a will under the green form scheme. This can support their living costs when under 18 and be drawn on for other expenses considered suitable between 18 and 25, for example university costs, or help buying things such as a car or house.
If an executor dies, any other surviving executor s can deal with the estate.