Just seen this on BBC News
They are running a series of short programmes about how to take the worry out of your finances, and todays piece was on making a will. I am going to investigate more thoroughly, but I will pass on the four tips they gave
| Top Tip: |
| Simply, make a will. However you do it, get it done! |
Easy enough! Next...
| Top Tip: |
| Check what you own |
Sounds easy, but think about what is actually yours or what you have an interest in. After many years of living as a couple or extended family ownership lines will be blurred. This is important if you particularly want something to stay in your family
| Top Tip: |
| Dont assume common law status |
Every country is different, but in the UK there is a tendency to think that because a couple have lived together they have the same rights as a married couple. This is a major error. You might have lived with your partner for 50 years, have 6 children, and both contributed to buying a home but it is possible that upon death the surviving partner would not be recognised as a beneficiary as there is no blood tie.
| Top Tip: |
| Dont overwrite original documents |
If you want to alter your will, draw up another from scratch formally. The programme showed a couple who lost thier inheiritance through confusing scribbles written over the original will
As with all these things, this is just broad advice. In the UK at least you really should get a solicitor to draw up these documents
Either that, or find the elixir of eternal youth and dont worry about wills at all!