Making a will - Executors What You Own


The next step is to write down what you own with approximate values. You may be surprised at what it amounts to. You can get an estimate of the value of your personal possessions from the insurance policy for your house contents. Make sure that you include the value of any life insurance policies and, of course, the value of your home after any mortgage has been redeemed. If you are married, remember that much of your property is jointly owned and that only half the value is yours.

Who Inherits?

Normally it is a straightforward matter to decide who inherits your property. You make a few special dispositions of small items to named people - grandchildren, perhaps, or friends - and then leave the balance of your estate to your husband or wife or, if they are dead or die before you, to your children.

But life is not always that simple. You may have married more than once, have no living children, or have particular feelings about relatives who are already well off or who have always been closer to you. And there may be inheritance tax considerations .


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Making a will - Executors What You Own


The next step is to write down what you own with approximate values. You may be surprised at what it amounts to. You can get an estimate of the value of your personal possessions from the insurance policy for your house contents. Make sure that you include the value of any life insurance policies and, of course, the value of your home after any mortgage has been redeemed. If you are married, remember that much of your property is jointly owned and that only half the value is yours.
Who Inherits?
Normally it is a straightforward matter to decide who inherits your property. You make a few special dispositions of small items to named people � grandchildren, perhaps, or friends � and then leave the balance of your estate . . . ... see: Making a will - Executors What You Own