Knowledge Base

Can the executor of my will also be a beneficiary?

by | | Knowledge Base, My Wishes |

Yes they can. In fact many people choose close friends or relatives to be their executors, so it is only natural that they will also be beneficiaries too. Your executors can receive any amount in your will, just like any other person. So, that could be a specific gift, property, a substantial share or even the whole lot – there are no restrictions on what you can leave them. Important The only rule you need to concern yourself with is that a beneficiary can’t be one of your witnesses. To read

What can’t be included in my will?

by | | Help: Estate, Knowledge Base, My Assets |

Whilst most of your assets and possessions can be left to anyone you choose, there are a number of things which fall outside the scope of your will and will be disregarded, no matter what you request. Items which can’t be included: * Joint bank accounts – any funds in these accounts will automatically go to the surviving account holder. * Any property held as a joint tenancy – your half of the property will automatically go to the surviving joint tenant. See our ‘Your home and your

Will my partner get anything if I die without a will?

by | | Knowledge Base, Friends and Family |

If you die without leaving a will, then the state decides how your estate (money, property, personal processions etc.) is distributed, using the intestacy rules. These rules are thought by many to be old fashioned and may not reflect what you would have wanted to happen. Key people such as your partner could be excluded under the intestacy rules. Intestacy rules The rules used can be complicated, but here are some of the highlights: * Currently if you are married or in a civil partnership, yo

Why might a gift in my will fail?

by | | Help: Cash, Help: Chattels, Help: Estate, Knowledge Base, My Wishes |

If circumstances have changed or the will is worded poorly then gifts may not come into effect in the way you want. It’s vital your will is written clearly and correctly. There are two main reasons a gift might fail: Circumstances have changed Examples of changes in circumstances that can cause a gift to fail include: * The Testator no longer owns the item or property matching the description in the will. * The Beneficiary dies before the person who made the will. * A charity mentioned

What happens if the appointment of an executor or guardian fails?

by | | Help: Executors, Help: Guardians, Knowledge Base, My Wishes |

You might have already approached the people you’re going to appoint as guardians and executors in your will for their permission to do so, but let’s face it, a lot can change between now and when your will’s going to be needed. This could include these key people changing their mind, not being around anymore or not being physically able to carry out their responsibilities. How you can minimise the risk of this happening We’d always recommend you appoint substitutes for the key appointments in