No matter how straightforward your circumstances, having an up to date will ensures everyone understands what you’d like done with your estate – that is, your assets, debts and anything else in your name after you’re gone. This can include who will be responsible for carrying out your final wishes, your funeral instructions, who will be the testamentary guardian of your children and who should benefit from your assets, including any specific gifts you want to make.
As well as specifying what will be given to your beneficiaries - the people who receive your assets - a will is also important for naming your executor and trustee – the person who will be responsible for applying to the High Court for probate, collecting all your assets, paying all your debts, carrying out your final wishes and dealing with any disputes.
