A-Z of a Will

A – Assets:

Take stock of your assets, including property, investments, bank accounts, and personal belongings.

B – Beneficiaries:

Determine who you want to inherit your assets and specify their names in the will.

C – Children:

If you have minor children, consider appointing guardians who will take care of them in the event of your passing.

D – Digital Assets:

Take into account that you need a Digital Asset clause in your Will.

E – Executor:

Choose a trustworthy executor who will be responsible for carrying out your wishes and handling the distribution of assets.

F – Funeral arrangements:

Consider specifying your preferences for your funeral or memorial service.

G – Guardianship:

If you have dependents who are unable to manage their own affairs, consider establishing a trust and appointing a guardian to oversee their financial matters.

H – Household items:

Household items and personal belongings and gifting them in your Will.

I – Inventory:

Create a detailed inventory of your assets and their estimated value to aid in the administration of your estate.

J – Joint assets:

Understand how assets held jointly and pass by survivorship.

K – Keep it updated:

Review and update your will periodically, especially after significant life events, to ensure it reflects your current wishes.

L – Legal assistance:

Consult an experienced Solicitor to guide you through the process of drafting a valid and legally binding will.

M – Mental capacity:

Ensure you have the mental capacity to make a will, which generally requires being of sound mind and understanding the implications of your decisions.

N – Next of kin:

Consider the rights of your closest relatives and address their potential claims or inheritances in your will.

O – Organ donation:

If you wish to donate your organs or tissues, include your intentions in your will or carry an organ donor card.

P – Pets:

It is important to make sure you have a Pet Provisions clause in your Will and you set out who will look after your Pets.

Q – Qualified witnesses:

Ensure your will is witnessed by individuals who meet the legal requirements set by your jurisdiction.

R – Residuary clause:

Include a residuary clause to address how any remaining assets should be distributed after specific bequests are fulfilled.

S – Specific bequests:

Clearly outline any specific gifts or bequests you want to give to individuals or organizations.

T – Taxes:

Consider the potential tax implications of your estate and consult a tax professional for guidance.

U – Unmarried partners:

If you have an unmarried partner, ensure your will includes provisions to protect their interests and inheritance rights.

V – Verification:

Sign and date your will in the presence of witnesses to validate its authenticity.

W – Witnesses:

Choose witnesses who are not beneficiaries or related to beneficiaries to ensure the impartiality of your will.

X – Extra care:

Extra care and take you time when making your Will and seek the advice of a Solicitor.

Y – Your wishes:

Clearly express your wishes regarding the distribution of your assets, guardianship, and other important matters.

Z – Zero ambiguity:

Write your will in clear and unambiguous language to avoid confusion or misinterpretation.

If you have not made a Will, please contact the team at Guardian Solicitors on 0203 301 6600 or by email us at