This will instruction form will take a considerable period of time to fill out correctly, and we would suggest leaving yourself at least 30 minutes. You may save it at anytime and resume the process when convenient to you.
The law imposes certain restrictions on how you may deal with your estate. Your spouse or civil partner has a legal right to half of your estate where you have no children. If you have children, your spouse or civil partner is entitled to one-third of your estate.
Important note on being separated or divorced
Being separated or divorced from your spouse does not mean that your spouse automatically loses the legal right to a share of your estate; however, the rights may be cancelled under the terms of a separation agreement or judicial separation or can be cancelled by court order when there is a divorce. These provisions also apply to civil partners under legislation which was commenced in January 2011.
In the case of divorce, a former spouse who claims that proper provision has not been made for him/her may apply to court for a share of the deceased’s estate within 6 months from the date of grant of probate or grant of administration. Personal representatives are required to make reasonable attempts to notify the former spouse. A share will not be given to a former spouse who has remarried. The same rules apply to a separated spouse. These provisions also apply to civil partners under legislation which was commenced in January 2011.
We would strongly advise you rethink not leaving your spouse or civil partner at least 50% of your estate, as to do otherwise might leave the will open to challenge.
It may be appropriate that a discretionary trust be established for your child. We would suggest it might be in order to appoint trustees to control that Child's share.
The best advice when choosing an executor is to choose someone who has common sense, and will give effect to your wishes with minimum fuss.
We would always advise the same parties should be both the executors and trustees. It just makes things simpler.
The law imposes certain restrictions on how you may deal with your estate. Your spouse or civil partner has a legal right to half of your estate where you have no children. If you have children, your spouse or civil partner is entitled to one-third of your estate. However, the one-third share which your civil partner is entitled to can be subject to a possible claim by one of your children.
Your spouse or civil partner also has a right to require that the family home and household contents be included in his/her share.
It is important when describing the various gifts you are leaving not to be too specific. It is better practice to leave certain percentages to each beneficiary rather than precise amounts of money or specified gifts. In this way if your estate is less than you might expect each beneficiary will be reduced proportionally. Also, if you leave a specified gift, (i.e. your car), and if you do not die possessed of that gift (for instance if you sell the car and buy a motorbike) that person will get nothing.
The residuary legatee is the person who will get everything after all the specified bequests are paid out. It is a "catch all" provision, but also a very important one, as regularly in practice this is the person who gets the most under the will
WARNING!Banks, Insurance Brokers, Share Registrars and other institutions are notoriously poor at maintaining records of assets they hold on behalf of clients. We have had repeated examples of cases where clients had certain shareholding that only came to light by change after they passed. While there is no need to detail your assets on this page it is vitally important your executors can easily locate a list of your assets. To this end we would strongly encourage you to keep such a list in a safe place, but one where you executors would obviously look after your passing.
Also consider assets held online, for instance bitcoin or other cryptocurrencies. How will those who come after you be able to access these?
WARNING! Under no circumstances should a person getting a gift in your will or a spouse of that person witness your will or the gift to them may lapse