A will is one of the simplest ways to protect the people you love. Here is what it does, and what the intestacy rules do instead.
Many people put off making a will. But without one, the law decides who inherits from you, and the result is often not what you would have chosen.
What a will lets you do
A valid will lets you choose who receives your estate, appoint executors you trust to carry out your wishes, and, if you have young children, name guardians. You can also make specific gifts and plan for inheritance tax.
What happens without a will
If you die without a will, your estate is shared out under the intestacy rules. These follow a strict order of relatives and make no allowance for your personal wishes. Unmarried partners, for example, may receive nothing under the rules.
Keeping it up to date
Life changes, and your will should keep pace. Marriage, divorce, children and changes in your assets are all good reasons to review it.
Making a will does not need to be complicated. A short conversation is usually all it takes to get clear on what you want.
This article is general information, not legal advice. For advice on your own situation, please get in touch.