Why do I need to make a Will?

Most people in this country do not have a will: perhaps because they do not want to think about death.

As a result, when these people die, their wishes may not be carried out and they are leaving complicated problems for their loved ones to deal with.

If you die without a will, the law uses automatic rules called the Rules of Intestacy. They apply a rigid formula to your estate and say how it will be divided up amongst your family after your death. The rules may not do what you want and because Parliament has the power to change the rules at any time, you should not rely on them.

Under the Rules, it is possible that your spouse may not get everything when you die. If you are living with someone and are not married to them your partner may well get nothing at all.

If a husband and wife who have no children die without having made wills it is likely that all of the estate may pass to the family to the second to die with nothing going to the family of the one who dies first. With a will it is possible to arrange for the estate to be divided fairly between the two families.

If you do not make a will you cannot make any gifts to friends or charity on your death.

A will also allows you to appoint a guardian for your young children and to give the person you appoint the power to use your money towards the children's maintenance and education.

You can include provisions to mitigate any charge to Inheritance Tax on your death - often by including a Discretionary Will Trust.

It is very important for you to have a will if you are in a second marriage or a second relationship with a new partner, where one or both of you have children from a first marriage or relationship.

Making a Will Lets You:

• Ensure your spouse/partner is protected.

• Specify exactly how your property and possessions are to be dealt with or divided on your death so as to avoid arguments between family members.

• Appoint Executors that you can trust to deal with the paperwork on behalf of the family

• Minimise the payment of any tax on your death.

• Make gifts of personal possessions or sums of money to specific people or to charities.

• Provide properly for your infant children

• Protect your partner where you are not married

• Make your affairs easier (and probably cheaper) to deal with after your death.