Do you need to make a will?

Making a will is one of the most important things you can do to protect your family and ensure your wishes are carried out after you die. Yet surveys consistently show that more than half of UK adults have not made one. If you are wondering whether you need a will, the short answer is almost certainly yes.

Who needs a will?

Strictly speaking, anyone over 18 in England and Wales can make a will, and most people should. You especially need a will if:

• You own property or have savings - even a modest estate can cause problems if there is no will to guide how it should be shared out.
• You have children under 18 - a will is the only way to choose who will look after them (their "legal guardian") if both parents die.
• You live with a partner but are not married or in a civil partnership - cohabiting partners have no automatic right to inherit under English law, no matter how long you have been together.
• You are married or in a civil partnership - intestacy rules may not leave everything to your spouse, especially if you have children (see below).
• You have a blended family - stepchildren do not automatically inherit under the rules of intestacy. If you want them to receive anything you must say so in a will.
• You own a business - without a will, your share of a business may pass to someone who has no interest in running it, putting the business and your colleagues at risk.
• You own property abroad - foreign assets can be subject to different inheritance laws. A will helps clarify your intentions and can make administration much simpler.
• You want to leave money to charity - charitable gifts in a will can also reduce the inheritance tax rate on the rest of your estate from 40% to 36%.

What happens without a will?

If you die without a valid will, you are said to have died "intestate." Your estate will then be divided according to a fixed set of rules set by Parliament, not according to your wishes. Here are some of the real-world consequences:

• Unmarried partners get nothing. It does not matter if you have lived together for decades or have children together. Under the intestacy rules, a cohabiting partner has no automatic right to inherit.
• Your spouse may not get everything. If you are married with children, your spouse receives the first £322,000 of the estate plus personal belongings, and then only half of whatever is left. The other half is divided equally among your children. For many families with a home and some savings this can force a sale of the family home.
• Stepchildren and close friends are excluded. Only blood relatives and legally adopted children can inherit under intestacy.
• A court decides who raises your children. Without a will naming a guardian, the family court will decide who looks after your children. This can be slow, stressful, and the outcome might not be what you would have chosen.
• It costs more. Sorting out an intestate estate is usually more expensive and time-consuming than one where a clear will exists, because someone must apply to the court for authority to act and may need legal advice on how the rules apply.

Specific situations where a will is essential

Cohabiting couples

English law does not recognise "common-law marriage." If you live with your partner without being married or in a civil partnership, making a will is the single most important step you can take to protect each other financially.

Young adults

You might think wills are only for older people, but anyone over 18 with savings, a car, or other assets should consider making one. If you have recently bought a property with a partner, a will is especially important.

Business owners

A will can include directions about what should happen to your share of a business, whether it should be sold or transferred to a particular person. Without this, your business partners could face serious disruption.

Benefits of making a will

Not sure what your will should include? Here are the key benefits of having one:

• Choose exactly who inherits your assets and in what proportions
• Appoint guardians for your children
• Reduce or plan for inheritance tax
• Make gifts to charities you care about
• Avoid family disputes by making your wishes clear
• Appoint executors you trust to handle your affairs
• Include wishes about your funeral arrangements
• Set up trusts to protect assets for young or vulnerable beneficiaries

The cost of not having a will

People often delay making a will because they assume it will be expensive or complicated. In reality, an online will can cost far less than the legal fees your family might face if you die without one. Contested estates, court applications, and professional administration charges can run into thousands of pounds. Making a will now is one of the simplest and most cost-effective ways to look after the people you love. And if your circumstances change, it is straightforward to update your will later.