Making a Will is not something you are required to do by law but by
making a Will you can choose how your property and assets are distributed between family and friends.
If you die without
making a Will, the law decides how any assets are distributed and this may not be as you would have wished.
If you are an unmarried couple, you can make sure your partner is provided for, by making a Will.
Making a Will also enables you to ensure that your dependents do not pay more Inheritance Tax than they need to.
Before making a will, it's advisable to think about what you want included in your Will, for example:
- Who you want to benefit from your Will
- Who will look after your children
- Who will act as your executor
- An executor is the person responsible with passing on your estate. You can appoint an executor when making a Will.
After making a Will, it is important to keep it in a safe place and ensure your executor, or a friend/relative is aware of where it is.
You should review your Will regularly and consider making a will again after any major change, such as marriage, divorce, having a baby or moving house.
If someone dies without making a Will, they are said to have died 'intestate'.
When a person dies without making a Will, dealing with their estate can be very complex. It can also take a considerable time in extremely complicated cases.