Writing a will means deciding who will inherit your estate; your beneficiaries.
It’s a deeply personal decision that reflects not just your financial priorities, but your relationships, values, and hopes for the future.
At Coastal Legacy, we help people across Hampshire, Fareham, Gosport, and Portsmouth make these choices with clarity and confidence.
Here’s how to approach choosing your beneficiaries.
1. Understand What a Beneficiary Is
A beneficiary is anyone who receives something from your estate after you pass away.
This might include:
- Family members such as a spouse, children, or grandchildren
- Friends or people who’ve played an important role in your life
- Charities or causes you care about
- Organisations such as churches, clubs, or community groups
You can also leave specific items or amounts; for example, jewellery, heirlooms, or a set sum of money.
2. Start with Your Closest Relationships
Most people begin by thinking about their immediate family; partners, children, or dependants.
You might ask yourself:
- Who relies on me financially?
- Who would I like to thank or support?
- Are there people I want to leave something meaningful to, even if it’s not financial?
There’s no single “right” way to divide an estate; what matters most is that your decisions reflect your intentions.
3. Be Clear About What You Want to Leave
You can leave specific gifts (like a car or a piece of jewellery) or residuary gifts, which are percentages of whatever remains after debts and taxes are settled.
For example:
- “I leave my granddaughter Emily my gold locket.”
- “I leave 50% of my estate to my two children, to be divided equally.”
At Coastal Legacy, we help you phrase your will clearly so there’s no confusion or misinterpretation.
4. Consider Fairness But On Your Terms
Many people worry about dividing assets “fairly.”
Fair doesn’t always mean equal; you might choose to give more to someone who needs extra support, or to someone who’s played a special role in your life.
It can help to explain your choices (either in conversation or in a separate letter of wishes), especially if your decisions might surprise anyone.
5. Include Charitable Gifts if You Wish
Leaving a donation to charity (known as a legacy gift) is a meaningful way to support causes close to your heart.
It can also reduce the inheritance tax owed on your estate in some cases.
Even small gifts can make a big difference. Many people in Hampshire choose to support local charities, animal shelters, or community organisations this way.
6. Think About What Happens If a Beneficiary Dies Before You
If a beneficiary dies before you, their gift might pass to someone else (known as a substitute beneficiary) or return to your estate.
Including clear backup instructions avoids confusion later.
✅ Tip: Coastal Legacy ensures your will includes these details, so every possibility is covered.
7. Review Your Beneficiaries Regularly
Life changes and so should your will.
Review your beneficiaries if:
- Your relationships change
- You marry, divorce, or have children
- Someone passes away
- Your financial situation evolves
We recommend reviewing your will every few years to keep everything current.
Choosing with Care and Confidence
Choosing beneficiaries is about more than dividing assets; it’s about expressing gratitude, love, and purpose.
At Coastal Legacy, we make the process clear and comfortable, helping you make confident decisions that reflect who you are and what you value.
👉 Contact Coastal Legacy today to discuss your will and choose your beneficiaries with expert support.