If you don’t have a legal will, take heed – without your will, there is no guarantee your loved ones will be provided for when you die. In fact, your treasured possessions could become government property. Here are some tips to get started:
Do your homework Research the estimated value of your belongings and assets. You may be surprised at how much you are worth.
Seek expert advice While do-it-yourself kits are readily available, it is worth enlisting a solicitor to draft your will and ensure it is legally valid.
Keep it updated Any major life event, such as marriage or the birth of grandchildren, should prompt you to change your will. Make sure you include the phrase “I revoke all previous wills” in the new version.
Store in a safe place You won’t be around to find your safely stowed-away documents. Let loved ones know where to find your will, or give it to your solicitor for safekeeping.
Think beyond the grave Many people nominate a charitable cause as a beneficiary. Contact your favourite charity to find out more about their recommendations for bequeathing funds.
Source:Reader Digest
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