Checklist: Writing A Will
Whether you decide to seek the professional help to draft your Will or decide to write your own, you will need to gather certain information. This article provides a checklist of all the items you should consider.
When you write your Will, you should consider:
1a. Your full name
1b. Any former name(s) or alias(es)
1c. Current address
1d. Age (for purposes of tax and investment advice)
1e. Relationship status (Married/co-habiting/civil partner?)
1f. Children/step children?
Value of your property
2a. Any property or financial accounts owned in your sole name, including:
2. Bank accounts
3. Building society accounts
4. Saving certificates
2b. Details of any house owned with another in joint names.
2c. Details of bank/building society accounts or other property owned with another in joint names.
2d. Superannuation benefits – and whether they are nominated.
2e. Details of insurance policies, including whether or not you have instructed the Insurance Company to benefit a particular person on your death.
2f. Trust property.
2g. Foreign property.
2h. Property likely to be inherited.
2i. Whether you have made any substantial gifts within the last seven years. This information is needed for Inheritance Tax purposes.
2j. Whether your property mortgaged(?) and whether you have any other substantial debts.
2k. Business or agricultural property
Details of any gifts you want to make
3a. Personal belongings: do you want to give any special items to named beneficiaries?
3b. Legacies: do you want to make gifts of cash to friends or charities?
3c. Who is to receive the rest of your property?
Names of intended beneficiaries
4a. Spouse – full name
4b. Children – names and ages
4c. Others – names/addresses
Names of executors/trustees
5a. Full names and addresses of proposed executors and trustees
Details of any guardians appointed to look after your children
6a. Names and addresses
Your funeral wishes and preferences
7a. Do you have any special wishes concerning your funeral arrangements?