Everyone should have a will. If you’re about to plan your funeral, we recommend writing a will as the very first step. A will gives you full control over what happens with your money and your assets. It can help you establish how much Inheritance Tax you’ll have to pay and settle any debts that you might be leaving behind. This might sound dry and overly technical but writing a will is critical as you plan your funeral.
In this blog post, Capital Life Funeral Plans will explore the importance of writing a will as you plan your funeral in more detail.
The Importance of a Will
Writing a will is the only way to ensure that you have any control over what you’re leaving behind. This might include savings, property, and personal possessions. Without establishing a legally valid document that says how you want your estate to be divided, the law will share it out in a standardised fashion. People outside your immediate family are unlikely to receive anything – this includes unmarried partners.
Plan Your Funeral and Write Your Will
One of the most important aspects of writing a will is getting to decide on your own executor. This person is then responsible for carrying out your wishes after you die. If you’d like to leave mementos to extended family members, or make sure that heirlooms stay in the immediate family, your executor can take care of it. Provided your wishes stay within the letter of the law, you can be as detailed or as vague as you like in your will.
A will doesn’t need to be written in legal style, but there are a few requirements before a document is considered legally valid:
- A will must explain how your possessions, assets and/or money should be divided when you die;
- A will must have been written when you were capable of making your own informed decisions;
- A will must be written in the presence of two witnesses who are not set to inherit from you. These witnesses must then sign the document.
Despite being a relatively easy process, there are still a number of considerations to bear in mind when you plan your funeral and write your will. Don’t leave it too late to make your wishes clear to those you’re leaving behind.
Plan Your Funeral with Capital Life Funeral Plans
Capital Life Funeral Plans is a specialist funeral planner with a range of established funeral plans suitable for all budgets. We also offer a Free Inheritance Planning Review, so you can get all your affairs in order.