Why make a Will

Married Couples

Unmarried Couples

Complex families

Making a Will is the only way to ensure that your wishes are carried out after your death.  Without a valid Will, your property will pass by the Law of Intestacy (see rules of intestacy page).  In any event it is likely to cost more and take longer than if a Will had been made.  Making a Will lets your loved ones know that you cared enough to sort things out in advance.

If you are married, do not assume that your spouse will get everything.  Under the Law of Intestacy, your child can have a right to part of your estate if it is large enough.  Even if a Will was made before marriage, your Will could have been revoked by your marriage unless the Will stated it was still to stand.

Unfortunately unmarried couples do not have the same legal rights as those who are married.  Under the Law of Intestacy your partner would not receive anything from your estate.

It is common for a person to wish to benefit their current spouse but also ensure that their own children eventually will benefit.  A Will can include guidance for certain trusts which allow for a spouse to live in a property for the rest of their life and then the property will pass to the children afterwards.

Executors

A Will allows you to name Executors who will deal with your estate after your death pay any taxes, debts and distribute the estate as the Will directs.  You may feel that a professional should be appointed if your estate is complex or to relieve the burden from grieving loved ones.

Children and Guardians

Protecting Assets

Updates from an old Will

The pitfalls of not having a Will

A Will allows you to say who you would like to look after your children in the event of both parents’ death.  If no person is named, the courts will decide who should look after your children instead.

Children can legally inherit assets at the age of 18, however many people wish for children not to inherit until they are more mature, at later ages such as 21 or 25.  You can provide instructions for this in your Will. 

If you wish to protect your assets for future generations they can be placed into trust rather than given to a person directly.  There are various reasons to put a trust in a Will, such as to protect property for children, to provide for disabled beneficiaries and to allow flexibility for trustees to adapt to a beneficiaries changing circumstances.

If you are retired maybe you made a Will a long time ago.  It likely needs updating to include additional grandchildren or deletion of persons you no long feel you wish to leave anything to.

Having a Will is not just about ensuring that all of your possessions go where you want or hat your family is looked after.  With the laws changing with regard to Inheritance Tax (IHT), more people than ever fall into the IHT bracket.  Homeowners will pay billions in increased IHT to the government.

Although most people are consider having a Will, they are unaware of the outcome of dying intestate (without a Will).  If you die without a Will the laws of intestacy will govern how your estate is distributed.  This may not reflect how you wish your money and possessions to be allocated.