From Lawpack's Last Will & Testament Kit.
Before you make your Will:
- List the assets you own.
- Decide who is to receive those assets.
First, make an inventory of everything you own, whether in your name alone or owned jointly with others. Lawpack's Last Will & Testament Kit provides a Property Inventory form which can help you.
Then decide whether there are any specific gifts you want to make to particular people. Any item you don't specifically allocate forms part of the residue of your estate (i.e. the remainder of the property belonging to you at death) and you must also decide who is to receive this residue.
If you don't make any provision in your Will for someone who is financially dependent on you, that person may have a claim against your estate. This can also apply to close relatives. Where this risk exists, you should always consult a lawyer to assist you in drafting your Will.
It's always best to draft your Will as simply as possible in plain English. Avoid the use of legal words and phrases if you don't understand precisely what they mean.
Law is stated as at 1 October, 2005