No one likes thing of the worst (even those who dwell on such things don't enjoy it) but should the worst happen... who would you want raising your kids?
Is that something you've even thought of?
Ahead of our upcoming transatlantic trip, we have very clear ideas as to who we want to care for our boy should something happen to us both, but writing them out clearly and legally binging is important!
If you don't clearly outline your wishes it can be left to a court to decide. Here are some easy to follow guidelines, if you wish to write your own will. Should you have complex wishes, or just that you have the budget and want the peace of mind - then go see a lawyer to get your will written. If not:
1. Use a clear headline, along the lines of: LAST WILL AND TESTAMENT
2. Your declaration - write your full name (include a maiden name or previous names if appropriate), address, state that you are of legal age and sound mind and it is your last will and testament and that you are revoking all previously made wills and codicils. You are not under duress or undue influence to make this will.
3. Name an executor - usually it would be a remaining spouse or main beneficiary of the estate as executor.
4. If you have any minor children - you need to name a guardian for them, or risk a court appointed one! (Consider as we did, providing a chain of guardian's for example should Executor A be unable or unwilling at the time of the will reading, then I name Executor B.)
5. Provide your beneficiaries details and be clear if you are naming Joe Bloggs, then say spouse, business partner... whatever it may be, but don't be ambiguous.
6. Note your assets - be clear what you wish to go to whom, otherwise it goes to the estate to then be divided, so if you have a valuable car that you wish to leave to cousin Jimmy - detail this here.
7. Bequests - if you wish to make a particular bequest (perhaps to charity) it can be covered by something like "Not including the articles listed above, I bequeath the remainder of my assets to ..."
8. Detail the type of funeral you would like to have, some people feel very strongly as to a burial or a cremation - this is the place to outline your wishes and you can be as detailed as you wish.
9. Sign your will in the presence of witnesses, as they will be witnessing that you are indeed the signatory of the will. Include the date and place of the signing and sign every page of the will, to ensure that it can be proved that no one has made any changes and it is the original document.
10. Your Witnesses - they must provide their full names, addresses and signatures and a declaration that they witnessed your signature, that they are legal adults and of sound mind and they consider you of sound mind, adult age and under no duress or undue influence to sign your will. Include the date and place of their signing.
11. Number the paragraphs again this can prove that no one has made any changes to it and it is the original document, with no pages missing.
Now you have written your will to the best of your ability, you need to store it safely - your best options are either with your solicitor or your bank. You can keep your copy somewhere safe at home, but write on it the original is stored at 'x'. Be aware if you move out of the area, to move it to your local bank or solicitor, to prevent it being difficult for your executors to find.
What was important to us was to make sure we had adequate life insurance in place too and to do so before writing our wills and to detail how that money was to be allocated. (Free online forms and information.)
Whilst we hope to live to a ripe old age and see our grandchildren grow, should the worst happen (god forbid) we at least know our wishes should be carried out and our son provided for and looked after.
All we have to do now is let our families know our wishes. Whilst it can cause rifts, a 'public' awareness of your wishes in your lifetime would go a very long way to preventing squabbles and surprises at a difficult time for those left behind.
On a more cheerful note we are really looking forward to making this trip and showing off our lovely son to family and friends.
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