Wills - Distributing Your Property

The first step to take to before making a Will and stating who will benefit, is to set out a rough estimate of how much your estate is worth and what constitutes your estate. What you can leave behind and be distributed in your Will can take many forms. Legacies are generally particular items or fixed amounts of money that you are leaving for beneficiaries. It is wise to write down who you wish to give legacies to, if any.

It is advisable then to make a list of the particular items you would want to leave to specific beneficiaries in your Will and if the gifts are valuable, you should state how much they are worth. You may also wish to give money to a few people, including friends and relatives, this is very common where people have been helpful to the testator in their lifetime, as it shows gratitude. You can also give a sum of money to a specific group or class of people and can be divided in fractions or percentages depending on how you would like to distribute the gift. It is wise in this situation to avoid giving a gift to a class or group of people that may not be known for many years, such as grandchildren that your children have not yet had. Your executors may have to wait a long time to be sure that there is a grandchild born to give to them the legacy. It is also advisable not to leave money in a specific bank account to a beneficiary as a legacy because the account may have changed or the bank may have been taken over by another bank by the time the legacy needs to be carried out.

It is therefore important to be very specific as to who in a group or class of people you wish to benefit from your Will and to specify potentially why you would like those people to benefit. If the Will excludes illegitimate children or stepchildren it is important to be specific as there is no legal distinction between children born in wedlock to adopted children. It is also important to distinguish whether husbands of aunts and vice versa are included in the word uncle or does it mean the brothers of parents only. Also with the term nephew or niece, describe illegitimate nephews or nieces. These are areas that need to be distinguished. If there is any doubt at all, it is best to list people by their names in the Will to avoid any uncertainty or ambiguity.

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