Important things to consider when preparing your will include:
The value of your estate
One of the most important things you'll have to work out is how much your estate is worth. This involves offsetting the current value of everything you own, including your property, car, all your personal possessions and any money, against all your debts, including mortgages, loans, overdrafts, any credit or extended purchase agreements.
Who you want to include
Your will is your chance to say how you'd like your assets to be distributed after you're gone. Gifts can be anything you own including specific items, money, property or a percentage of your estate.
Of course your loved ones come first, but if you'd like to also include a charity you'll need to know the full name of that charity and their registered charity number. You can find those details here.
Who will look after your children
If you have children under the age of 18 you'll need to decide who you would like to take care of them if you die. You can also provide for your pets in your will.
Who you would like to handle your affairs
The people who handle your affairs after you're gone are called executors. They can be professionals, friends, family members or any combination of these. It's usual for two people to share the task of executing your will.
What funeral arrangements you would like
Your will also provides you with the opportunity to say what you'd like to happen at your funeral, which can greatly help your loved ones in their time of grief.
