Frequently asked questions (FAQs)
We ask for your partner’s email address for two reasons:
- Firstly, to help the executor(s) of your will identify and contact them when you die or at a very distant time in the future, we hope your executors will need to find the people named in your Will and let them know what to expect. Supplying an email address helps them differentiate between different people with similar names (perhaps you know two John Smiths). It also means they can contact your partner directly as soon as possible, so they don’t have to wait to find out what is happening with the Will.
- Secondly, to make it easy for you to invite them to write a Will. Most couples tend to write their Wills at around the same time. It means that their families will be safe if something happens to either one of them. Lifeium makes this easier and more affordable with our ‘partner Wills’ option.
Once you have written your Will, you can pay for your partner to write theirs. Lifeium will then send your partner an email to invite them to get started. When you buy your partner Wills together, you get 50% off the second “ill. We’ll also help your partner save time by filling in the key details in the Will for them already.
If you’re still not sure what to put, here are some suggestions:
- Single. You are not dating anyone or are not married/in a civil partnership.
- Living together/cohabiting: You’re in a committed relationship with someone and you may be living together.
- Married/In a civil partnership. You are married or are in a civil partnership.
- Engaged: You are in a committed relationship and anticipate getting married or entering into a civil partnership.
When creating a Will, one of the first thing to consider is Guardianship of your children. If you currently have Parental Responsibility over your children and they are under 18 years old, then you can include in your Will the appointment of a Guardian to look after your children whilst they are under 18 years old. This takes effect only if there is no one else with parental responsibility over your children when you pass away.
The importance of appointing a Guardian is one of the main reasons why parents make sure they have a valid Will in place. You can also include your children as beneficiaries in your Will even though they are very young. When this occurs, it is sensible to consider the age you would like your children to reach before being able to access their inheritance, typical ages are 18, 21 or 25. Whilst the child is under that age then their inheritance is managed on their behalf by people called Trustees. These are people that can also be appointed in your Will.
It Is nothing sinister, we ask for dates of birth for any children you have for two reasons;
- The first is simply to make it easy for your executor(s) to find and contact your children.
- The second is to find out if you need to name guardians for your children in your Will.
You may want to consider the following liabilities when valuing your estate:
- Mortgages
- Credit cards
- Personal loans
- Overdrafts
- Store cards
- Student loans