Creating a Will using the Will Maker Worksheet
In UK versions of the Microsoft Money product, there is a feature to allow you to create a Will -
this is the legal document which allows you to decide how you would like your assets will be distributed when you die.
You can use this tool either to generate a new Will, or to remind you to update it or to understand the
concept of a Will more.
Money allows you to create up to two Will worksheets. You can create them by going
to the Planning menu and selecting the Will Maker Worksheet.
You should enter your address details by
pressing the 'Address Setup' button which is situated in the lower left corner of the window.
which worksheet you are working with, choose one from the left hand pane (you can rename it if required).
Note along the top of the worksheet window, there are the following radiobuttons: Welcome,
Details, Executor, Guardian, Gifts, Estate, Results. You should click through each of these in turn to add the
relevant details to the will. At all times, you will see information on the right of the window giving you help
in following through the process.
The details radio button should include information directly
from your lifetime planner, so you may not need to type everything here in again, should it have been done in
that part of the Money program.
This is to enter the names of those who will execute the will
for you on your death.
If you have children or other dependents, then you may wish to nominate
a guardian in this page
If you have specific gifts or legacies, then you can enter them in here.
The 'gift description' list will contain items from your home inventory. Note that the help on this page may be
out of date (especially with inheritance tax rules on the value of assets) due to changes in the law in England
This is to provide information on how to distribute the rest of your estate after all
costs are paid (e.g. funeral expenses, tax and your debts.
The results page allows you to put in
a figure for the 'simultaneous death clause' of up to 6 months. In addition, you can now edit the Will in
Microsoft Word, which allows you to print it out.
Note that Wills need to be witnessed and signed.
This worksheet is only suitable for use in England and Wales
Keywords: lifetime planner, estate, inheritance tax, inventory, will