You may choose anyone, any organisation, or any charity you wish to benefit from your Will. These people or charities will become your beneficiaries. If you have any dependants you should be aware that the Inheritance (Provision for Family and Dependants) Act 1975 requires that, wherever possible, you should leave your dependants sufficient funds.
An executor is the person or persons responsible for handling your estate and making sure that your wishes are carried out after your death. An executor’s duties include ensuring that all debts, bills, funeral expenses and taxes are paid from your estate, and that all your beneficiaries receive what you intended them to inherit. It is important to choose your executor or executors carefully. You can choose a friend or family member (even if they are a beneficiary) but many people prefer a professional executor such as a solicitor. You can even choose a selection of both personal and professional executors.
Once your will is properly signed and witnessed, it is a legal document. It is important to store your Will safely and inform your executor where it can be located. If your Will was prepared by a solicitor, it is usual for them to store the original whilst supplying you with a copy.
It is vital to review your will occasionally to ensure it is still an accurate reflection of your wishes. You should speak to a solicitor about the simplest way to revise your will quickly and cost-effectively.