After the meeting, you will be sent a draft of your will to check, together with a letter of explanation detailing each clause. Once you are happy that everything is as you wish, the next step is to complete the signing procedure. In order to write a Will, you need to describe your family status. You are required to enter your details; name, location and email address. The name and location are required in order to create the Will, the email address is required to send your order confirmation and account details. If the original will has been lost, advertisements should be placed in suitable newspapers to try and find it. A copy will is not normally acceptable, in case the original will was revoked – perhaps by destruction.
A Will that allows for specific gifts (if any) and then leaves the balance to the Will maker’s spouse or partner. If that person has died, then the balance of the estate is divided equally amongst the Will maker’s children.
There are just so many things which can go wrong with a simple fill in the blanks system. The quality of these kits varies, but overall they tend to be dangerously unacceptable. A legal document has to be very clear, appropriate for your particular situation, specific to your State, and legally valid. A Will doesn’t have to be complex, but we have seen some truly appalling examples of Will forms which could lead to costly litigation. You may think you are saving money, but in the long run you are not.
Frequently Asked Questions (FAQs)
Read more about will template here.
Step 6 – your Alternate Plans
There is no legal requirement or need to give it to a lawyer or official to hold onto, though some people find this a useful way of ensuring it is secure. Keeping it along with your other important legal documents, such as your property titles and banking and financial affairs, in a safe or other locked area makes sense. Creating a will and planning your estate might seem daunting, but it can be simplified with the proper knowledge and tools.
When making a will, be as specific as possible to avoid misunderstandings. Clearly identify your funeral wishes, burial wishes, beneficiaries, the assets you’re leaving them, and any conditions or stipulations you want to include. Another option, which I don’t recommend, is using a do-it-yourself-will kit that you can buy online or from a store like Staples. Using a kit to make your own will is cheap and perhaps better than having no will at all, but they only work for the most basic estates, can be confusing, and are often challenged in court. How you decide to create your will will depend on the complexity of your estate and your budget. Each option has its pros and cons, although I can only recommend the first two. List all of the individuals and organizations that you wish to leave something to.
Many of you will have seen ‘DIY will kits’ advertised online. At first, glance, making a will seems very straightforward but it is important to be aware that these kits do not provide you with specialist legal advice. They don’t have the appreciation of the law surrounding wills that a specialist solicitor will have and they don’t consider your individual circumstances. The ‘DIY will kit’ takes a one-size-fits-all approach, which is completely inappropriate for most people. This option gives you the flexibility to leave specific items to specific individuals or organizations, and then either divide the residual estate, or leave it all to another person or organization. Be careful when selecting this option that you do provide for your dependents, as this may be a legal responsibility. Because the death benefit is paid out tax-free, some people also use life insurance as a method to pass along wealth to the next generation in a tax-efficient manner.
You can write your own will, but make sure it is all in your own handwriting. Again, this may be a cost-effective solution in the short-term, but you run the risk of not including all the relevant information or leaving out necessary details. Once the will has been prepared, it’s read to you by the notary, so you’re sure it reflects your wishes.
This is the last will and testament of Catherine O’Brien of Ailesbury Road in the City of Dublin. I hereby revoke all previous wills and testamentary dispositions made by me.
Name An Executor
Before creating your will, talk with your spouse possibly your minor children about custodians and guardians. While lawyers offer the highest level of customization, this is much more expensive compared to online services like Willful. A holographic will is a will that is written by you without the aid of any mechanical process. It must be handwritten and signed by you, and it is the only type of will that does not require the signatures of two witnesses.
