#MakeAWillWeek has been running from Monday 6th – Friday 10th March with 100% of the money being raised going straight to The Myton Hospices.

The Myton Hospices is an organisation at the forefront of palliative and end of life care across Coventry and Warwickshire. They have three hospices located in Warwick, Coventry & Rugby, two inpatient units and an ever-developing range of outpatient and community based services.

As a charity organisation, The Myton Hospices have to raise £9.1 million each year to continue providing their care, you can find out more & make your own donation to this valuable cause by visiting their website.

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Well done to those involved in engaging in this fantastic initiative whilst supporting this invaluable UK charity

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We explain why making a Will is important and easy to do……

What is a Will?

In essence a Will is a legally binding document which allows you to choose who will benefit from your assets when you die.  It lets you leave clear instructions about how your estate is distributed.  You also choose your own Executors, who will be responsible for administering your estate after your death.

Why should I make a Will?

You can make a Will at any time, but a Will should definitely be completed with any life changing event such as buying a home, starting a family, or moving in with your partner.  It places you in control and ensures your wishes are carried out when it comes to who inherits what, whilst protecting your loved ones and providing peace of mind. It could also prevent potential family disputes down the line.

What happens if I do not make a Will?

Not having a Will can lead to a host of problems.  If there is no Will in place, intestacy rules take over and determine who benefits from your estate meaning that it may go to people who you would not have chosen.  It could also mean that your spouse or partner may not receive as much as you would have liked or worse receive nothing at all. Not making a Will leaves your family and loved ones exposed as well as the potential of facing unnecessary costs.

What do I need to do?

Put together a list of your assets and draw up a list of beneficiaries and decide what you would like them to receive.  This can be anything from your property, money, jewellery or simply items of sentimental value.  Also choose who you would like to administer your estate after your death.  This can be a friend, family member, an accountant, or a legal representative.  Engaging the services of a qualified Solicitor who will be able to provide the necessary advice on any inheritance tax issues which may arise and ensuring your estate is distributed in an appropriate manner to minimise the chance of family disputes.

Our friendly Private Client team are here to help

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Wills often include a clause which bequeaths ‘all my personal chattels’ to a specific beneficiary or to the Personal Representatives (PRs) to distribute among family and friends. In defining the meaning of ‘personal chattel’ section 55 of the Administration of Estates Act 1925 says that it is our ‘tangible moveable property’.  This is a catch-all definition. It does not provide the necessary guidance or clarity to those administering our estate if they are trying to determine whether or not one of our digital assets would fall within the meaning of ‘personal chattel’. All the more reason therefore that we name our digital assets as specific legacies in a Will and so avoid problems down the line when our PRs are trying to sort out those assets in our estate which have not been dealt with specifically in our Will.

With each of our digital assets there will be an associated password or username. How can the relevant account be accessed if, on our death, the log in details cannot be traced? Just as we recommend that details are kept of bank and building society account numbers and other physical assets it is similarly sensible to keep a log of our digital assets and their access details. It goes without saying that this detail should not fall into the wrong hands and we would strongly recommend that it is kept alongside the Will, preferably in an encrypted format.

It is also worth considering the procedures that your PRs would need to deal with when closing down your various accounts when you die. PayPal for example, ask for a death certificate, a photo of the PR to prove identity, a copy of any Will and, if applicable, Grant of Probate.  Facebook allows for profiles either to be shut down, when all photos and comments will be deleted, or to be ‘memorialised’ for a period after death so that family and friends can continue to post comments. However, logging into the account post-death is not permitted since Facebook contend that accessing a memorialised account could breach certain US laws such as trespass. Providing this sort of useful procedural information with your Will would, again, greatly assist your PRs in the administration of your digital estate.

To help you consider your digital legacies as well as the more traditional assets that are bequeathed in a Will do give Helen Strong a call 024 7653 1532

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