The only legal way of securing your investments, possessions, property, and / or money after your death is by having a document called a will in place. With one of these you can ensure that the people you care about are looked after once you have passed.
Make A Will
The first step in making a will online is putting a value on any investments, possessions, property, and / or money that you own. Some of the assets that people include in their will consist of things, such as motor vehicles, houses, cash, stocks and shares, furniture, artwork, jewellery, and any other personal belongings that have material or sentimental value to them. When determining the value of your estate, it is important to also take into account any debts that you may have. This includes things like loans, mortgages, overdrafts, and credit card balances.
Once the value of all your assets have been established, it is then time to come to a decision on how all of these things should be divided amongst the people that you care about in the event of your death. Some people decide to make donations to a charity or charities that are particularly close to their heart. At this stage you also need to think about appointing executors to distribute your assets for you.
The actual process of writing a will is best done online. There are lots of different providers out there now that currently provide this service – you can see one of them here. Once this has been done and all of the details on the document verified, you need to then sign the document in front of two witnesses that are independent in order for it to be deemed fully legal.
After receiving the completed document, it is important to store it in a location that is highly secure – somewhere like a bank, safe deposit box, or solicitor’s office is preferable. Be sure to let the executors know exactly where the will is being stored so that they can access it upon the event of your death. Try and avoid attaching any other documents to your will, especially with staples or paperclips, as they can leave marks and potentially damage the document if dispatched. It also raises questions about the document or documents that are now missing from the will in future.
Update A Will
It is important to regularly review your will in order to ensure that it remains relevant and up to date. For example, the birth of a grandchild or grandchildren may mean that the document needs updating to include them. Just like a will needs to be signed and witnesses, the same is true for any amendments or updates that are made to an already existing will.
Where there are significant changes to your own personal circumstances, then it is beneficial to cancel your current will and make an entirely new one, rather than attempting to amend or update it.