Writing a will is easy on EPO Lawyers’ online willshop, but it’s best if you give a little thought to it before you start.
Executors... Think who you would like to look after your business after you die... If you have no-one suitable to do the job, EPO Lawyers will do it for you. Just tick the relevant box on the executors page. If you do have someone you know who is suitable, then make sure you have their full names and address.
Guardians.. Again, if you have children, think about who you could entrust with their well-being, and remember to ask them first! Make sure you have their full names and addresses, too. If you don’t need to appoint a guardian, then move to the next page.
Pecuniary legatees... This just means someone who is going to get a gift of money or a ‘pecuniary legacy’ You are best to leave definite sums of cash, e.g., £5000, rather than ‘the money in my bank account’ or the ‘money in my ISA’ You may wish to leave some money to a charity on this page. Make sure you have the names and addresses of your chosen recipients, and/or the exact name of the charity you would like to benefit. If you don’t want to leave such a gift, then leave it blank and move on to the next page.
Gift Beneficiaries... This just means people who will get gifts (not cash) under your will such as, eg, ‘my gold bracelet’ or ‘my antique sideboard’ or ‘my David Hockney painting’. Make sure you have the recipients’ full name and addresses.If you are going to leave for example, 'All of my belongings' just put 'my belongings' ,or 'my belongings in their entirety'.
Residue.... This simply means what is left in your estate (all of your belongings, including your share in any house, bank accounts, cash, furniture, cars, jewelry) after your debts and funeral expenses have been paid, and after any gifts and legacies (see above) have been paid....this is usually divided amongst your nearest and dearest...for example you may want 100% of it to go to your surviving partner, or you might want to split it between your 4 children 25% each, for example. If you need help, phone us, or ask us to contact you by email.
Burial, etc., requests... This is just a message to your executors as to whether you would prefer to be buried or cremated.
Witnessing the will
This is important and you should read the instructions on the tab at the bottom of the Home page 'Witnessing your will'. You need 2 who should not be beneficiaries or not likely to be beneficiaries |