Crafting a Will is essential for directing the distribution of your assets after your passing. Once you have written this important document, you may be left wondering, “What should I do with my Will?” It is crucial to ensure it’s stored securely and easily accessible when necessary. In this guide, we’ll explore the key steps to take once your Will is written, addressing the query of what to do with your Will.
Steps to Take After Writing Your Will
- Review and Update Regularly: Your life and circumstances may change over time, and keeping your Will updated is essential to reflect these changes. Marriage, divorce, the birth of children or grandchildren, property acquisitions, or any major life event may require adjustments to your Will. Review it periodically and make updates as necessary to ensure it remains up-to-date and aligned with your wishes. Visit our Comprehensive Guide to Updating Your Will if you would like to find out more.
- Store Your Will Safely: After your Will is drafted and signed, storing it in a safe and secure location is crucial. Consider options such as a solicitor, the Probate service, or a professional Will and Probate specialist, such as ELM Legal Services. Ensure your Executors know where the Will is stored and how to access it when the time comes. For more detailed information on storing your Will, see our article on ‘Where Should I Store My Will?‘. Moreover, you can find out about our storage solutions on our Storage & Update service page.
- Inform Key People: It’s essential to inform key individuals about the existence and location of your Will. Executors, close family members, or trusted friends should be aware of its existence and whereabouts. This ensures that your wishes can be carried out efficiently after your passing.
- Provide Copies to Relevant Parties: While the original Will should be stored securely, it’s advisable to provide copies to specific individuals. These copies could be given to your Executor, Beneficiaries, or anyone named in the Will. However, it’s crucial to ensure these copies are exact replicas of the original document.
- Consider Professional Assistance: Seeking legal advice can be immensely beneficial in ensuring your Will is accurate and legally binding. A qualified Will and Probate specialist, such as ELM Legal Services, can guide you through the process, offer insights, and help with any queries or concerns you may have.
- Organise Supporting Documents: Alongside your Will, you may wish to gather and organise important documents such as property deeds, insurance policies, bank account information, and any other relevant paperwork. This will assist your Executor in handling your estate efficiently.
- Inform Executors of Their Responsibilities: Executors play a vital role in executing your Will. It’s essential to discuss their responsibilities and ensure they understand your wishes. This includes responsibilities such as applying for Probate, settling debts, distributing assets, and handling administrative tasks. If you are unfamiliar with the duties an Executor must fulfil, you can direct them to our Comprehensive Guide to Being an Executor.
- Consider a Letter of Wishes: Although not legally binding, a Letter of Wishes is a supplementary document that guides your Executor on how you wish certain aspects of your Will to be carried out. This can be particularly helpful for expressing personal sentiments or reasons behind your decisions.
What Should I Do With My Will Once It’s Written?
Writing a Will is an essential step in securing your legacy and ensuring your wishes are carried out. However, it’s equally important to take the necessary steps to store and manage your Will effectively. By following these guidelines and seeking professional advice when needed, you can ensure that your Will serves its purpose when the time comes.
Remember, each person’s situation is unique, and seeking personalised legal advice is always advisable to address specific concerns or complexities related to your estate and Will.
If you need further guidance or assistance in drafting, reviewing, or managing your Will, do not hesitate to reach out to our experienced team of professionals. We are here to help you navigate the intricacies of Wills and Probate, providing peace of mind for you and your loved ones. Call us now on 0117 952 0698 or simply click on Contact Us. Alternatively, if you would like to book a free initial meeting, you can visit our Online Wills service page.
For other useful resources regarding Will writing and estate planning, you may like to visit Age UK which has been consistently providing up-to-date resources on the subject.