What to Include in a Will

Making a Will is one of those tasks many people push to the back of their minds, often because it seems daunting or uncomfortable. Yet, having a clear, well-prepared Will ensures your wishes are respected and gives peace of mind to your loved ones. So, if you’re wondering “what should I include in my Will?”, this comprehensive checklist covers everything important.

Clearly Name Loved Ones and Charities

First and foremost, your Will should clearly state exactly who you want your assets to go to. This includes your family, close friends, and any charities that hold a special place in your heart. Clearly naming these beneficiaries ensures there’s no ambiguity, which significantly reduces the chances of disputes later.

For example, if you have a beloved charity like Hospice in the Weald that you wish to support, explicitly mentioning it by its registered charity number or full name can be extremely helpful. By doing this, you not only leave a positive impact but also ensure your charitable legacy is precisely fulfilled. If you have specific intentions for how the donation should be used. For example, to support hospice care or children’s bereavement services, you should state that too.

It’s also wise to use full legal names when listing individuals, and perhaps even include their dates of birth to avoid any confusion.

Appoint Trusted Executors

Choosing the right executor is essential. Executors are responsible for carrying out your wishes, managing your estate, and dealing with any legal and financial matters after your passing. Ideally, your executor should be someone you deeply trust and who shares your personal values and understands your charitable interests.

Many people appoint a family member or a close friend, but professional executors such as solicitors can also be appointed, particularly in complex cases involving business interests or international assets. Another option is appointing joint executors, for example, a family member and a solicitor, allowing for emotional sensitivity and professional knowledge to work hand-in-hand.

Ensure you discuss your choice with the person beforehand, as this role carries significant responsibility and can be quite time-consuming. Also, it’s a good idea to name substitute executors, in case your original choices are unable or unwilling to act when the time comes.

Specify Your Funeral Wishes Clearly

While it may feel uncomfortable, clearly specifying your funeral wishes can dramatically ease the emotional burden on your family during an already difficult time. Consider including details about whether you’d prefer burial or cremation, the type of ceremony you envision, and any special music, readings, or arrangements you desire.

You might also want to include whether you wish to donate your organs or body to medical science, which can be a significant decision for your family to make without prior guidance. While your Will might not be read immediately after death, stating your funeral wishes can still serve as an important reference point. It’s also wise to communicate your wishes directly to your loved ones alongside documenting them.

Not only does this relieve your family from making tough decisions in an emotionally challenging period, but it also ensures your farewell reflects your true personality and wishes.

Consider Tax-Efficient Gifts to Charities

Including charitable donations in your Will can benefit your estate through inheritance tax relief, maximising the positive impact of your legacy. In the UK, charitable gifts are exempt from inheritance tax, and if you donate at least 10% of your estate to charity, the overall tax rate on the remainder of your estate can reduce significantly, from 40% to 36%.

This is known as the “charitable legacy incentive.” For many people, this approach allows them to balance looking after family members with supporting causes they are passionate about.

By leaving a percentage of your estate to a charity or organisation, you not only support a cause close to your heart but also maximise the value your loved ones ultimately receive. Whether you leave a fixed amount (pecuniary gift), a specific item (specific gift), or a percentage of the residue of your estate (residuary gift), charitable giving can be structured to reflect your personal priorities. Read more about our hospice gift in Will service and the types of gifts you can leave in your Will.

It’s always advisable to seek professional advice to ensure your gifts are structured in the most tax-efficient way.

Include Instructions About Personal Belongings

Lastly, don’t overlook your personal items. These might not hold significant financial value, but they often carry enormous sentimental importance. To prevent potential family disputes and to ensure these treasured possessions end up in the right hands, include detailed instructions about who should receive specific items.

Think about family heirlooms, jewellery, artwork, collections, and even digital assets such as photographs stored online or social media accounts. Some people choose to create a separate letter of wishes to accompany their Will, which can list out smaller personal items. While this letter isn’t legally binding, it’s a useful way to convey your wishes clearly.

Including clear instructions helps to prevent unnecessary stress or confusion among your loved ones at a very emotional time.

More Important Considerations for Your Will

When drafting your Will, there are a few additional points you should keep in mind:

• Guardians for Minor Children: If you have children under 18, your Will should appoint legal guardians. This ensures your children are cared for by people you trust, according to your values and wishes.
• Provision for Pets: If you have pets, consider who will look after them and whether you want to leave money to support their care.
• Financial Planning: Review your financial situation, including life insurance policies, pensions, and jointly owned assets, as some may not automatically fall under your Will.
• Updating Your Will: Life doesn’t stand still. Major events like marriage, divorce, having children, or moving house should prompt a review of your Will. An outdated Will can cause as many problems as having no Will at all.

Making Sure Your Will is Valid

Remember, for a Will to be legally valid, it must be written voluntarily by someone who is of sound mind and signed in the presence of two witnesses who are not beneficiaries. Witnesses must also sign the document themselves, and all signatures must be made in each other’s presence.

There are strict rules about who can act as a witness, and it’s vital that these are followed carefully. If you’re unsure, getting professional help can provide the reassurance that everything has been done properly.

It’s also recommended to store your Will safely, either with your solicitor, at home in a fireproof safe, or registered with a Will storage service, and to let your executors know where the original document is kept.

Final Thoughts to Secure Your Legacy

If you’re still wondering what to include in your Will, following this checklist will help you create a comprehensive, clear, and compassionate document. Ultimately, a well-crafted Will is your chance to safeguard your loved ones, support causes you care about, and ensure your legacy endures exactly as you intend. 

Taking the time now to prepare your Will means giving a lasting gift to those you love most: clarity, comfort, and a true reflection of your values. Please reach out to us if you have any questions or need further support!