Top 3 Things You Need To Consider When Writing Your Will

Writing a will isn’t the most pleasant job in the world. None of us like to think about our mortality or no longer being with our friends and family. But it is a job that all of us need to do, whether we want to or not. It’s a vital document that needs plenty of care and thought put into to ensure our wishes are executed once we are gone. To make your will as concise and accurate as possible, here are the top 3 things you need to consider.

Child

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Your children

You will understandably want to make sure that your children are looked after and cared for should anything happen to you. This is particularly important if your kids are under the age of 18 and considered minors. Talk to your partner and decide upon a suitable guardian that you can appoint in your will. This should be someone you trust like a relative or close friend. Always choose more than one just in case someone is unable to take on the responsibility. Also, decide how you wish to have your estate equally divided up between your children and how the money is to be accessed. Have this important information written down before seeing your solicitor. For more information on choosing a guardian visit

http://www.parenting.com/article/how-to-choose-a-guardian-for-your-child
Fiduciaries

The fiduciaries are the people who will be responsible for implementing your wishes and terms stated in your will. They will deal with your multiple aspects of your affairs and have specific duties to carry out. These are roles of utmost importance, so it’s crucial that you choose wisely. Profession fiduciaries such as an accountant or family lawyer are often popular choices. But you need to ensure they are trustworthy, loyal and honest to facilitate the role you require. Family members can often disagree and argue if they do not agree with the terms you have stated. So having someone without a personal stake could make things go much smoother. It’s not, however, unheard of for fiduciaries to abuse the trust of the beneficiaries. Take a look at

http://www.aldavlaw.com/practice-areas/litigation/abused-trust-will-beneficiary-litigation/ for further advice.

Safe

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Storage of your will

When your will has been finalised, you need to have a pre-prepared place for it to be stored. This will ensure that it remains intact and can be easily accessed by your family or fiduciaries after your passing. Your solicitor may be able to store your will for you for a small fee, or you could keep it in a safe at home. Never place your will anywhere where it could get easily damaged or torn as this can affect its authenticity. Make sure the right people know where it is and don’t move it without stating so.
Making your will doesn’t have to be challenging if you’ve put enough thought into it. These considerations will help make the process more straightforward for you and your solicitor. So never rush it and keep it frequently updated to avoid issues for your family in the future.