Focus SWW Autumn 2018 | Page 19

This provides that the Will needs to be signed by the testator in the presence of two witnesses. The witnesses must not benefit from the Will or would forfeit their gifts. The Witnesses must then sign the Will themselves to acknowledge that they’ve witnessed the testator sign. What happens to the ‘stuff’ that you own that aren’t specifically mentioned in your Will? You don’t have to list every single item that you own in your Will. Property that belongs to you that you don’t make specific reference to can gifted as part of your residuary estate. Your residue is the part of an estate that is left after the payment of charges, debts, and bequests have been made. For lower value gifts you can refer to this in your letter of wishes but bear in mind that this is not legally binding. Binding a Will There are no formal rules governing how a Will should be bound however a Will writer will let you know what their guidance is. When it’s being signed it ought to be held together but this can be done by your finger and thumb. When the Will goes to probate the probate registrar will look over the document for signs of it being tampered with. If the document has been stapled and there are additional staple marks then questions are likely to be asked as to where the Will has been dismantled. The traditional/common ways to bind a Will include heat sealing or the use of legal corners. Your Will writer will bind everything for you. Digital Assets When you’re doing your estate planning you should consider all the things and platforms that your family or beneficiaries will need to cancel, access or may want to see when you’re not here. Some providers will require a death certificate to close a profile and other platforms like Facebook can create a memorial page once you’re no longer around so that your photos and memories aren’t forgotten or lost. Your executors will need access to things like your PayPal account, lottery account or any betting accounts in order to draw in assets and to close them. You can store your passwords for platforms like this in digital vaults where access can be granted after your passing. ‘Stuff’ you can’t put in your Wills There have been legal disputes about things that beneficiaries have wanted to make use of after death, but the providers have put a stop to. A prime example of this would be iTunes accounts. The terms and conditions within iTunes essentially grant you a license to play music after it has been purchased. This terminates on death and despite having spent considerable sums of money on music this cannot be gifted in your Will according to the terms of use set out by Apple. Writing your Will can seem like a daunting process and has the potential to be complicated. Before you see your Will writer, list your assets, liabilities, and Think about what you would like to see happen. Explain it to your Will Writer. They’ll give you advice. who you would like your ‘stuff’ to go to. They’ll help you to put an estate plan in place. The Will Writers advice The price of the documents the Will writer is going to produce for you and the information they provide is down to advice. You may think that what they propose to charge seems expensive but bear in mind that they incur the costs of travel, document production, insurance etc. They also charge you for their time and advice it may seem more reasonable. You are under no obligation to proceed after hearing the pricing if you don’t wish to and don’t have to proceed with the plans they propose but understand that this is what they do for a living and as such they should be giving you best advice. If you choose not to accept their advice in favour of another decision they may request that you sign a document to this effect. This may limit their liability further down the line. Also note that they can only provide advice based on the information you provide so you should be as up front and honest as possible with your estate planner. Should I get a free Will? A Will is very rarely ever likely to be free. There are schemes that offer ‘free Wills’ but they be insist or ask for charitable donations The Society of Will Writers 17