What Should You Consider Before Making A Will?

There’s no specific age that’s “right” to start thinking about a Will. Even if you haven’t done one yet, it can be helpful to consider making it a part of your long-term planning, so your wishes are clear and your loved ones are supported.

• Making a Will ensures those important to you inherit what you wish after you pass away

• You should think carefully about who’s included in your Will. Pick more than one executor (the person(s) who collect assets & distribute your estate), or consider appointing a professional to save your loved ones from having to do this

• Use a professional to ensure your Will is valid and accords with your wishes

• Also plan for your later life, consider taking out Lasting Powers of Attorney

Your Will should be reviewed with every important milestone in life, too. Be it births, marriage, separation, divorce, bankruptcy, increase or decrease in wealth, property purchase, deaths and so on. Your priorities might change – and so might how you wish to divide your estate. It’s also important to keep up-to-date with changes in law as this can affect your planning.
 

Some essential considerations before making a Will

These cover key points to think about, including tax implications, gifts, and other important aspects—not just questions to ask.
 

Why do I need a Will?

A Will ensures your family and friends are bequeathed what you want them to have after you pass away. With it, you can say exactly how you’d like your estate to be distributed.

Careful planning should make sure that those on the receiving end, your beneficiaries, are well taken care of.

Without a Will, the rules of intestacy are used to distribute your estate. That may mean that your wishes aren’t carried out. For example, if you and your partner are unmarried or not in a civil partnership, there are no assurances in law that they’ll receive anything from your estate.

It could also mean you leave behind family disputes and arguments. Those who you would like to get something may in fact get nothing. Equally, those you wish to receive nothing, may be entitled to something.

Who should be in my Will?

This is where you can ensure those important to you receive what they deserve.

You can set aside certain amounts of money, possessions, or even leave a tax-free legacy to charity. You can make provisions for pets so they’re looked after once you’re gone.

But it’s not just gifts and instructions. A very important factor is specifying who your executors will be.

Many choose their spouse or civil partner. It’s important, however, to also name alternatives. If your first choice is unable to carry out your wishes, there’s another who can. You may also wish to consider appointing a professional if you feel this would be better for your loved ones and save any hardship it may cause them.
 

What to not forget when making a Will checklist

It’s all too easy to forget certain arrangements when you’re busy focusing on what seems most important on the Will. Here are seven things to keep in mind when making a new Will or updating your existing Will.

1. Alternative beneficiaries

You may have a clear idea of who you want to inherit certain portions of your estate, but what happens if they’re unable to take their inheritance – for instance, because they have also passed away? In this case it could revert to the laws of intestacy, so you may want to name an alternative beneficiary within the Will.

2. Digital assets

If you have any sort of presence online – be it an email account, a social media profile or even your own blog – then you have digital assets. You need to make sure that you state what you want to happen to these accounts within your Will and, where necessary, provide a means of accessing login data. Be aware that loved ones looking to delete an account without login details may or may not be able to do so depending on the service, the provider in question and the specific circumstance.

3. Pet care

Not everybody realises that it’s possible to include a pet clause in your Will. This specifies how you want your pet to be looked after, and can also allow you to set aside a portion of money to be passed on to the pet’s new guardian to cover costs of their care. If you don’t know anybody who would be willing to take your pets, some charities are able to rehome them and, again, this would need to be specified within your Will.

4. Trustee and guardian information

This may seem like something most people are unlikely to forget, but sometimes it's easy to make the assumption that, should you pass away before your children turn 18, the role of guardian will simply pass to the other parent.

While this is true, it’s also the case that in some particularly unfortunate circumstances neither of you may survive – for instance in a travel accident. In that case, it will be essential that you have left both care arrangements and financial arrangements. An estate planner will be able to advise you in more detail. Also, as with alternative beneficiaries, you may want to specify an alternative guardian.

5. Funeral arrangements

You may not feel strongly about your funeral arrangements and may be comfortable leaving decisions to your family. That’s completely understandable. However, discussing your preferences in advance—or including them in your Will - can provide guidance and help make the process a little easier for your loved ones during a difficult time.

6. Disinheritance

If, for whatever reason, you would like to stop a specific person from receiving any inheritance, this also needs to be included in the Will. Simply leaving them out of the Will may not be enough, as it can sometimes be contested in court. So, if you have any concerns it is sensible to name anybody that you would like to disinherit within your Will.

7. Heirlooms

Your belongings – commonly referred to as chattels – can be a great way for your family to remember you. Children and other loved ones may want to keep a memento of your life but, at a time when emotions are running high, dividing out belongings can become a cause for dispute.

To avoid this, you may want to include something called a ‘memorandum of wishes’ as an additional document that can be stored alongside your Will and referred to within it. This sets out your wishes for individual items, and can also include explanations of why you’d like your things to be divided in a particular way.
 

How do I make sure my Will is valid?

You can write your own Will. But there are no assurances it’ll be legally binding. Without professional guidance, it’s easy to get it wrong. And if your Will isn’t valid, it can’t be executed. That’s where we can help with finding the best way to make a Will .

At Key, all our estate planners are fully qualified members of The Society of Will Writers. That means they have to follow strict guidelines when drawing up your documents.

It also means you can rest assured your executors will know your wishes when you pass away. As well as setting up your Will, it’s worth considering if there are any other important decisions you need to make. While you’re fit and healthy, perhaps considering a Lasting Powers of Attorney (LPA).

It’s easy to find out more about Wills and the service we offer. You can request your free Wills guide here or, alternatively, ask for a free, no-obligation call back from one of our expert estate planners.
 

What To Consider When Making A Will FAQs

Can you write your own Will?

Yes, you can write your own Will, and it can be legally valid if it meets the required criteria. It must be in writing, signed by you, and witnessed by two people, among other legal requirements. However, mistakes or disputes can still arise, so seeking legal advice is recommended—especially if your estate is complex or you have dependents.

What to avoid when making a Will?

When making a Will, you should avoid using vague language, forgetting to update it after major life changes, and leaving out key assets or beneficiaries. Don’t forget to sign and have it properly witnessed. Avoid writing your own Wills for complex estates, as mistakes can lead to disputes or your wishes not being followed.

How do I take out the Lasting Power of Attorney?

To take out a Lasting Power of Attorney (LPA), you’ll need to complete the relevant forms and register them with the Office of the Public Guardian. Many people arrange a Lasting Power of Attorney (LPA) alongside writing their Will, as each serves a different purpose. An LPA ensures someone you trust can make decisions on your behalf if you lose mental capacity, while a Will sets out how your estate is handled after your death. Legal advice can help ensure both documents are prepared correctly.