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Why Write a Will?


  • Have you made a Will?
  • Do you regularly review the provisions of your Will?
  • Does your Will reflect the bequests to charities you would like to be made in your name?

 

If the answer to any of these questions is NO read on.

 

Why Write a Will

An up to date, professionally written Will is incredibly important. It is the only way to ensure that your wishes are carried out after you die and, that the family, friends and charities, you wish to support, are provided for in the way you intend.

 

Checklist

  1. What assets do you own which will pass under your Will?

List your assets and liabilities to give you a good idea of the value of your estate.

  1. Who would you like to benefit from your estate?

List people, charities and organisations to be included in your Will.

  1. Use a solicitor – and ask about Inheritance Tax.

A solicitor will be able to advise you on the ways in which you can leave your estate and the inheritance tax implications.

  1. Choose Executors

Executors are the people you appoint to administer your Will and ensure that your wishes are carried out after your death, so they should be people you trust to deal with your affairs promptly and responsibly. Executors do not require any other qualification and, if appointed, professionals will charge for this service.

  1. Keep your Will updated to reflect major life changes.

Major changes to your marital, family or financial circumstances should be reflected in your Will and a new Will or Codicil made if appropriate. Inflation in the value of your assets since you wrote your Will may mean that the sums quoted as bequests do not reflect your current wishes. Use percentages to keep bequest up to date.

It is recommended that you review your Will at least every 5 years.

  1. Keep it safe.

Leave your original Will with your solicitor or legal adviser, keep a copy yourself and make sure your executors know where to find it.

 

Please don’t forget the League of Jewish Women when making your Will.

 

The League of Jewish Women relies on donations and legacies to continue its work. Gifts to charity are generally exempt from inheritance tax and can help reduce the tax burden.

 

If you wish to leave a Legacy to the League of Jewish Women, quote our registered charity number, 1104023 in your Will.

 

Contact us on 020 7242 8300 or at office@theljw.org if you have any queries.