Making a Will

A Will is a legal document that says who you want your money, property and possessions to go to when you die. It is the only way to guarantee that those you care about will benefit from your estate in accordance with your wishes.

Without a Will, you have no control over who will inherit and it can cause difficulties and complications for the loved ones you leave behind. By making a will you will have the satisfaction that you have made provision for those close to you.

How do I make a Will?

A simple Will need not be expensive or a complicated process.

1. Use a Solicitor

We strongly recommend taking legal advice when drawing up your Will. A Will is a legal document and there are specific rules to how it should be drawn up – and if it fails to meet the legal requirements, it can be invalid or cause difficulties for those who inherit. Therefore it is important that your Will is drawn up professionally, duly signed, dated and witnessed. If you do not have a solicitor, The Law Society can help you find a solicitor in your area by calling 020 7242 1222 or by visiting
www.solicitors-online.com.

 2. List your Assests and Liabilities

It is important when making or changing your Will, to have a clear idea of what your estate is worth. A good way to do this is to list everything you own and its approximate value, based on what you would be likely to receive for each item or asset if you were to sell it now. By doing this before meeting with your solicitor you can also save time and money.

 

Assests: All possessions (property, car, furniture, jewellery, clothing, antiques and any other items of value) and any savings and investments (bank accounts – including your current accounts, stocks and shares, bonds, insurance policies, pension benefits).

 

Liabilities: It’s also important to make a list of everything you owe (mortgage, loans, credit cards etc.).

 

By subtracting the total liabilities figure from the total assets figure, you will be left with a rough amount that you can use to decide how to apportion your estate.

 

3. Decide how to split your estate

 

Consider everyone you would like to include in your Will and what you would like to leave them. Again it’s a good idea to compile a list of names and addresses of these people before visiting your solicitor. You may also wish to include a favourite charity, such as the Muscular Dystrophy Campaign.

 

4. Appoint executors

 

You will need to appoint executors of your will, who will be responsible for administering your estate after your death and ensuring that the terms of your Will are carried out. It is usually advised to appoint at least two executors and they can be family, friends or professional advisors, or a mixture of these.

Changing your Will

Once you have made a Will it is very important that you review it every few years, this is especially important if you get married or divorced or have children. If you need to make a small change to your existing will, this can be done simply by making a codicil rather than an entirely new Will.

Leaving money to the Muscular Dystrophy Campaign

Leaving a gift to charity can be a tax effective method of giving as it could help to eliminate inheritance tax. Leaving a gift to the Muscular Dystrophy Campaign is your chance to leave something of lasting value and to share in the dream that muscle disease can be beaten once and for all.

One simple way is to leave the residue of your estate – whatever is left after your family and friends have been taken care of – to a charity. Alternatively you can make a gift for a specific sum or leave a straight percentage of your estate. Which ever you choose you can be sure your gift will be greatly appreciated.

Ways to word your Will

Leaving your residue to Muscular Dystrophy Campaign

 

Once you have provided for your family and friends with specific gifts of money or items, Muscular Dystrophy Campaign receives all or part of the residue of your estate. If you would like to leave your residuary estate to Muscular Dystrophy Campaign, we suggest that you include the following wording in your Will:

 

“I give all [or a …..% share] of the residue of my estate to the Muscular Dystrophy Campaign (Registered charity number in England and Wales 205395 and in Scotland SC039445), 61 Southwark Street, London, SW16 6JU, for its general charitable purposes and I direct that the receipt of the treasurer or duly authorized officer shall be a valid and appropriate form of discharge.”

 

Leaving a sum of money to Muscular Dystrophy Campaign 

 

If you wish to leave us a sum of money in your Will, we suggest that you include the following wording:

 

“I give to the Muscular Dystrophy Campaign (Registered charity number in England and Wales 205395 and in Scotland SC039445), 61 Southwark Street, London, SW16 6JU, the sum of [amount in figures and words] to be used for its general charitable purposes and I direct that the receipt of the treasurer or duly authorized officer shall be a valid and appropriate form of discharge.”