7 Items you should keep with your Wills

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Your executor, or whoever is dealing with your estate, will thank you for leaving all important information together in one place so as to avoid having to go through endless files and envelopes of paperwork.

1. A list of all bank accounts, no matter how little is in the account. It is helpful for those dealing with your affairs to know which accounts there are and whether any direct debits need to be cancelled.

2. Insurance policies and in particular, life insurance policies. The policy pay-out may be needed to pay inheritance tax which is almost always payable in Spain.

3. Information about investments, shares, UK National Savings etc. Either the share certificates or a latest statement and if there is a broker or financial adviser involved, their contact details

4. National insurance number and UK tax reference number (if probate in the UK is needed)

5. Wills for other jurisdictions. Regular readers will know that we always advise having a Will for each jurisdiction where you have assets and reviewing your Wills periodically to take account of new laws and changed personal circumstances (births, deaths and marriages in the family, for instance). If the original English Will is held by a bank or solicitor, the contact details will be needed. Remember that in Spain you only receive an official copy (“copia simple”) of your Spanish Will and the original always remains at the notary´s office where it was signed. Any Spanish notary can obtain the “last wishes certificate” from the central registry in Madrid to say where the last Spanish will was signed and when it was signed.

6. A list of small personal items and who is to have them. People often have jewellery and personal items that they would like friends and family to have when they have gone. Rather than bog down the Will with lots of small bequests, it is possible to make such a list but remember it will not be legally binding. For particularly valuable items or if there are likely to be arguments, it is better to include these items in the Will.

7. Your pre-paid funeral plan documents. This will ensure that the funeral is not paid for again in error and that your wishes as regards the funeral service etc are carried out as per the plan. Remember to tell your nearest and dearest during your lifetime that you have taken out such a plan.

Talk to us if you would like more information on any of the above. We can help and advise on all aspects of making a Will and inheritance, both here and in the UK.