A Guide to Our Will Template

A guide to using our Will template which explains how to use the template and what its clauses cover.

Each of the Will Templates  available in our Will template section includes a guide to customising the document template with it for ease of use and, that guide is specific to the exact type of will that you download. This is our general guide to using our standard Single Will and Joint Will templates. Our template has been drafted by a Private Client Solicitor specialising in Will drafting and inheritance planning. Our will template is written in plain English and is very easy to understand and to customise to your exact requirements. This guide explains the main clauses in the will template.

An Explanation of the clauses in our Will template

Our Will template begins with a clause revoking all previous Wills and testimonies. This is important because otherwise you run the risk of confusing people regarding which Will is in place and, you could also inadvertently create a situation where two Wills are both valid.  This clause which states that you revoke all former Wills means that the new Will you are looking to create shall invalidate and supersede any previous Will that you have in place already.

1. Executors to your Will

Executors are two people who you choose and name in your WIll who will be responsible for the administration of your Estate in the event of your death.  Simply put, the role of your Executors is to make sure your wishes, as set out in your Will, are carried out. Executors can claim expenses from your estate, such as travel expenses and other incurred costs, if you authorise them to do so. Our Will templates include a clause that gives you the option of doing this.

2. Appointment of Guardians

You only need to keep this provision in your Will if you have children who are younger than eighteen years of age. Chidren under the age of eighteen must have a Guardian. If you do not nominate a Guardian then there is a risk that the children could find themselves in a situation where the State is appointed as Guardian and they are required to enter foster care. If for any reason you fail to nominate a Guardian in your Will then fostering would only happen if a family member did not come forward and voluteer themselves as Guardian. The appointment of Guardians clause in our WIll template gives you the opportunity to name your chosen guardian(s) of your children. In the event of your death and that of your partner the Guardian(s) will look after your children on your death or work alongside your partner in raising your children after your death. The clause also has optional wording to deal with the revocation (undoing) of any previous appointment of guardians in order to clarify exactly who you want to raise your children.

When you pass away, many things you own will be subject to Inheritance Tax.  Inheritance Tax is payable on estates worth over a specific value.  For the tax year 2009-2010 the Inheritance Tax allowance is £325,000 before Inheritance Tax is to be paid.  For tax year 2010-2011 this allowance shall rise to £350,000.

3. My Specific Legacies

This clause in our Will templates enables you to decide which specific items (if any) you wish to leave to particular individuals. This includes any cash gifts that you want to make.  These specific legacies (items or cash) are taken from the balance of your estate.

4. Pecuniary Legacies

Pecuniary legacies are similar to Specific Legacies but instead are purely money based.  Here you state the amount of money you wish to give to specific people from the balance of your estate.

5. My Personal Chattels

A personal chattel is a movable piece of property belonging to you.  This could be your cat, car, furniture, clothing etc.  Here, you can name the people you wish to receive such items and, can either state what you wish each person to receive or simply have them share your personal chattels equally or proportionately between them.

6. My Estate

This is a description of what your estate contains.  This is a general clause that simply states all of your property and money in their entirety that exist at the date of your death will form your Estate.

7. Management of My Estate

This clause states that your chosen Executors are authorised to act for you after you pass away and can use money from your Estate to pay for your funeral. The Executors hold on trust (look after) investments and property for those waiting to receive such items after your death in accordance with the terms of the Will.

8. My Residuary Gifts

A residuary gift is a gift that is given after all the gifts that have been specifically stated in your Will have been allocated to the beneficiaries.  It is the residual (left over) property that remains, if any which is divided and distributed among those you have named in this clause of the Will template.

9. Executor’s Powers

This is a generic clause that confirms the powers that the Executors are to have in implementing your wishes as set out in your Will.

10. Power of Investment

This clause states that the Executors can invest money at their discretion as if the money was theirs. This clause only becomes relevant where there is a surplus of cash to be distributed under the Will and it gives the Executors the power to invest it in order to maximise its value. The clause is optional and can be removed if you do not want the Executors to have the power of investment.

11. Power to Borrow

This clause gives your Executors the authority to borrow money against your estate if this is required in order to carry out any of your wishes as set out in the Will. Again, this clause is optional.

12. Power of Appropriation

This clause permits the Executors to apportion any interests in land based property that you wish to allocate under your Will.

13. Executor Charging

Here it states that your Executors can be paid fees for time spent administrating your estate and performing your wishes under your Will.  This clause means that the Executors shall be paid out of your estate before any other person recieves their financial payments. The clause is descretionary but is a clause that most people choose to keep in their Will.

14. Executor’s Protection

This caluse in the Will template states that your Executors shall be protected against any loss that they incur personally in carrying out your wishes and administering your Estate with the exception of fraud.  This means that they are not accountable for any bad investment etc.

Finally, you and two witnesses must sign and date the Will.  The witness must be at least 18 years of age.  In order for a person to be a witness of your Will, they must not be receiving any gift from it.  If you wish to leave a witness an item under your Will, they shall be unable to receive the item if they are your witness.

If you are looking to make a Will then we have a wide range of Will documents including an individual Will and a Joint or, Mirror Will, in our Wills section. We also have a wide range of useful articles articles and guides related to Wills in our Law Library.