Important things to consider when preparing your Will
Your loved ones come first. You will need know who you want to include, be it your children, extended family and friends.
Value of your estate
Your "estate" is the sum of all your assets. One of the most important things you'll have to work out is how much your estate is worth. This involves offsetting the current value of everything you own, including your property, car, all your personal possessions and any money, against all your debts, including mortgages, loans, overdrafts, any credit or extended purchase agreements.
Who you want to include
Your will is your chance to say how you'd like your assets to be distributed after you're gone. Gifts can be anything you own including specific items, money, property or a percentage of your estate.
Of course your loved ones come first, but if you'd like to also include a charity you'll need to know the full name of that charity and their registered charity number. Find that information here. Remember to talk to your family and friends about your choice of including a charity, so they don't get any surprises and can ensure that your gift is received by the organisation(s) you choose.
Information on the different ways in which estates can be distributed is given in more detail on the leaving a gift to charity page.
Who will look after your children?
If you have children under the age of 18 you'll need to decide who you would like to take care of them when you have gone. You can also provide for your pets in your will.
Who would you like to handle your affairs?
The people who handle your affairs after you have gone are called executors. They can be professionals, friends, family members or any combination of these. It's usual for two people to share the task of executing your will.
What funeral arrangements would you prefer?
Your will also provides you with the opportunity to say what you'd like to happen at your funeral, which can greatly help your loved ones in their time of grief.
Request your free Will Information Pack (right) or see here for more on preparing your will