Questions people often ask
Why is it important that I write a Will?
A Will, also known as your Last Will & Testament, is a legally binding document that outlines how you want your assets to be distributed after you pass away.
It contains clear instructions – providing peace of mind by making your intentions known and that you’ve done what you can to protect your family, friends, and your legacy. This can prevent your loved ones from experiencing a lengthy and expensive legal process when they are potentially ill-equipped to do so, either practically, financially or emotionally.
Your Will can also include end-of-life requests, such as funeral arrangements, which can further ease the decision-making burden on your loved ones and help ensure your wishes are carried out.
Ultimately, writing a Will gives you control over your legacy and helps prevent potential hardships for those you leave behind.
What do I need to consider before I start my Will?
Begin by creating a list of the things you own, items such as property, accounts or savings.
Decide who you want your estate to go to. You can leave a gift in your Will to whoever you wish. This typically includes family, friends, and charities that you wish to benefit from your legacy. These are your beneficiaries.
Will you need to choose a guardian for your children? Are there any specific gifts you want to leave behind? Do you want to leave any money to charity?
Who do you want as your executors? These people will ensure your wishes are carried out.
What type of gift can I leave?
There are different types of gifts you can leave.
A residual gift is a share of your estate, or what is left of your estate when debts, taxes and other gifts have been paid. You can leave a specific percentage of the value of your estate after any taxes or costs have been subtracted.
A pecuniary gift is a specified amount of money.
A specific gift is a particular item or collection of items. Specific gifts are items, such as a house, stocks and shares, pieces of jewellery or other belongings.
Trusts can be very valuable to effective estate planning. They can help to minimise inheritance tax and take advantage of available tax relief. A solicitor will be best placed to advise on the creation of trusts.
Who can be an executor of a Will?
Executors are the individuals responsible for ensuring that your wishes are carried out. They will be named in your Will.
Your executor takes on the role of carrying out the instructions left in your Will. It can be a complicated process and often takes many months. Many people choose their loved ones to act in this capacity. It is generally advisable to have between 2 and 4 executors.
You can also choose a professional executor such as a solicitor. A professional executor can also be appointed at a later date by your loved ones.
What if I want to change my Will at a later date?
Once your Will is written it's a good idea to review it every five years or so and after any major life changes, such as marriage or divorce, birth of a child or grandchild, moving house, or your executor is no longer suitable.
Where should I keep my Will?
Keep your Will in a safe place and tell someone you trust where it is. It’s also important to make a copy of your Will for your own records. Your legal adviser may be able to store your original Will.
How can I change my existing Will?
Keeping your Will up to date is particularly important if your circumstances change. Simple changes can be affected by a codicil. More complex changes will require a new Will. It is advisable to ensure your old Will is destroyed or clearly marked as an old version.
Should I tell you that I’ve left a gift in my Will to Against Breast Cancer?
You are not obliged to share any information with us.
Against Breast Cancer does not receive a copy of your will. We won't know if someone has left us a gift in their Will unless they choose to tell us.
Telling us about your plans to leave a gift in your Will enables us to say thank you. If you opt to tell us, we will ensure you receive regular updates regarding our research and invitations to events such as our open days or research conferences.