Simple steps to making your Will

The following provides 6 simple steps to making your Will. For more advice and guidance, you may wish to consult your solicitor or bank.

1. Appoint a professional advisor – this is usually a solicitor, although your bank may also be able to offer advice.
   
   
2. Assess the value of your estate – your professional advisor will be able to help you with this. It should be the estimated sum total of your property, possessions and money at the end of your lifetime, minus any outstanding loans or mortgages that you may have.
   
   
3. Decide who you want to benefit from your Will - once you have provided for loved ones, you may decide to leave a legacy to a charity or cause close to your heart such as the CCT. Giving to a charity may even help to reduce the Inheritance Tax payable on your estate.
   
   
4. Choose an executor to ensure that the wishes in your Will are carried out – your executor(s) can be a professional advisor, a friend or a relative. Many people choose to have a number of executors (the maximum is four) to share responsibilities. An executor can be a named beneficiary in your Will.
   
   
5. Keep your Will up to date – changes in your personal circumstances may make your Will out of date, so it is good to review it from time to time to make sure it continues to reflect your wishes. If the changes are straightforward you can make a Codicil – a simple document that alters an existing Will. Your professional advisor will be able to help you with this.
   
   
6. Keep your Will safe – it is advisable to entrust the original will to your solicitor and to keep a copy at home. Tell your executor where it can be found.

Also see our Q & A section for answers to some frequently asked questions