If you're a property owner you need to find out the value of the property, deducting any mortgage owed. If the ownership is shared with a partner or spouse, your share is half of the market value minus your half of any mortgage.



You'll need to make a list of money held in bank accounts, any investment details and life insurance policies. You should make a note of where the various documents can be found. There may be various valuables which you may like to list separately, alongside general things such as your car and household goods. When you've deducted an amount to cover any debts and made an allowance for funeral expenses, you will arrive at a figure showing the value of your estate.

If you wish to leave an amount of cash or any particular item to some-one, or to give money to charities, then you should name the details and individuals. After these have been accounted for and any debts and taxes have been paid, the balance of the estate, which is referred to as the residue, may be left to one person, or shared between the people of your choice.

If you have children who are under 18 years of age, you will need to choose a guardian to take care of them should both you and their other parent die. You need to state where the funds for their care are to come from and this is usually in the form of a trust. Obviously you need to check that any person appointed as a guardian is agreeable to this, and to make provision for an alternative guardian who would step in should anything happen to the first named one.

Any property or cash left to children is held in trust until their 18th birthday. You can specify how the trust should be run, or there is something called "trustee laws" which allow your executors to deal with it.

You will need to appoint some-one to execute your wishes after your death. It's usual to appoint two or three people, who you feel would be suitable to do this. Very often a close relative or family friend is chosen, particularly if the estate is simple and there are no complications.

Having thought all this out, it will be time to put it on paper. It's as well to do a draft copy which you can make alterations on, so that the actual will should be free of corrections. When you're happy that everything is detailed as you wish, the will must be signed by you, with two witnesses present. After you have signed and dated the will, the witnesses should sign to say that this is your signature. The witnesses cannot be beneficiaries, nor can their spouses inherit anything from you. Destroy the draft copy, so there is just one valid will.

Your will should be stored in a secure place and your next of kin should be aware of its existence. If you feel happier, your bank or solicitor would be able to store it and most would make a charge for this

We haven't gone into things like inheritance tax or complications such as sharing your home with some-one to whom you're not married or in a civil partnership. If there are any doubts or things that you don't understand, don't hesitate to get some professional help. You can then relax knowing that everything is taken care of.