Frequently Asked Questions
What is a Will ?
What are the requirements for a document to be a valid Will ?
What if I do not have a Will ?
What are mutual Wills ?
Who should I appoint as my executor ?
Will I appoint a trustee company ?
What if I marry ?
What if I divorce ?
Should I have a Power of Attorney ?
What is an Enduring Power of Attorney ?
Is there a minimum amount or limit to the amount of funds I can bequest ?
How can I be sure the charity I nominate will receive the financial assets I leave for it ?
What if I want to leave bequests to more than one charity ?
What if I want to leave money to a charity that is not a member of Charity Wills ?
What if the charity I name in my will no longer exists by the time I die ?
Q.What is a Will ?
A. A Will is a legal direction by you which is legally enforceable as to how your assets are to be distributed upon your death.
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Q. What are the requirements for a document to be a valid Will ?
A. It must...
(a) be in writing
(b) be signed and dated
(c) be witnessed by two (2) witnesses (important - not being beneficiaries or potential beneficiaries)
(d) you must be 18+ years and of sound mind
(e) it must give away your assets
(f) it should give something to all your family to avoid claims someone was left out
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Q. What if I do not have a Will ?
A. Should you not leave a valid Will then your assets are dealt with under rules of law. This process will cause unnecessary costs, delay and financial distress to any dependant survivors and generally will not be what you intend and is different in various states.
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Q. What are "mutual Wills" ?
A. This is where a couple each leave their separate estate to the other and when the last partner dies then the remaining estate goes to the children or such other persons as may be similary directed. These Wills generally have the same beneficiaries and gifts.
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Q. Who should I appoint as my executor ?
A. Executors nominated to administer an estate can be beneficiaries or other responsible persons. We generally recommend husband and wife appoint each other and then they each appoint (the same) two (2) executors to act when both are dead. Two (2) executors are recommended as they tend to keep each other on track and ensure the right thing is done for the beneficiaries.
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Q. Will I appoint a trustee company ?
A. We do not advise appointing trustee companies as executors unless there is a complicated trust to be set up or perhaps where there are no responsible relatives, friends or professionals available. If necessary we recommend you get a Will prepared by a lawyer. Trustee companies charge a commission (on top of all costs being legal fees for probate, sale costs and the like) so there can be a significant cost to the estate if an executor trustee company is appointed.
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Q. What if I marry ?
A. Marriage generally automatically voids any then existing Will. If you do not have a new Will created after your marriage then you would die "intestate" (that is without a Will - even if you had a valid Will previous to your marriage).
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Q. What if I divorce ?
A. If you are married and then divorce then any gifts in a Will made prior to the divorce in most juristictions to a named husband or wife (ex) is not effective and the estate can be partly gifted only. Ensure you create a new Will after divorce.
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Q. Should I have a Power of Attorney ?
A. We recommend that all people have an Enduring Power of Attorney prepared in conjunction with their Wills.
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Q. What is an Enduring Power of Attorney ?
A. An Enduring Power of Attorney is different from a general or limited appointment as an enduring appointment will continue even if you become incapacitated.
The appointments are specifically designed so that your husband/wife, partner or family can manage your financial affairs if something happened to you. You can nominate who is to be your attorney and they can take over and assist in running your affairs if you become ill, incapacitated or otherwise are away and wish them to act. The appointment can be withdrawn if you have the capacity to do so. The usual arrangements for a married couple is from husband to wife and from wife to husband with an additional clause that if you both become impaired or incapacitated then another person acts as Attorney. It may be appropriate to appoint for instance the same person/s as you appoint as executors under your Will.
If you do not have an Enduring Power of Attorney and you became ill or incapacitated then normally you would become a protected person and the Public Trustee (or some other government body) would be appointed to administer and conduct your affairs. This is unnecessarily time consuming, costly, inconvenient and impersonal. Enduring Powers of Attorney are simple and inexpensive and we recommend you consider them as part of your estate planning and personal arrangements.
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Q. Is there a minimum amount or limit to the amount of funds I can bequest ?
A. There is a minimum gift defaulting to £500 on the online Wills but there is none in the Will kit you can download.
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Q. How can I be sure the charity I nominate will receive the financial assets I leave for it ?
A. This is up to the executors but by law they are obliged to carry out your wishes. Always appoint two executors or appoint an executor company.
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Q. What if I want to leave bequests to more than one charity ?
A. You can only leave multiple gifts in the Will kit which you can download.
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Q. What if I want to leave money to a charity that is not a member of Charity Wills ?
A. Then you will need to use the Will kit and it will allow non-member charities to be named. The online creation will only allow one (1) charity to be named for gifts.
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Q. What if the charity I name in my Will no longer exists by the time I die ?
A. Then the executors can ask that a court allow the gift be given to a similar charity. This is unlikely to occur if you chose a large established charity.
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Further help and explanation This summary is designed to help you consider the key issues in your will planning and estate planning but does not deal with how to leave your assets and tax or trust issues. You will need to have those matters explained to you. Seek professional help from a lawyer. Should you need any further explanations as to these estate planning notes, please use our Custom Wills legal referral point from the website without any initial obligation on costs or call the Law Society in your juristiction for a referral.
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