Why 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 around half of adults in the UK don't have one. Here's why you should.

You decide who inherits

Without a will, the law decides who gets your estate through the intestacy rules. These rules are rigid and may not match your wishes at all. For example:

• Unmarried partners receive nothing, regardless of how long you've been together
• Stepchildren don't inherit unless you've adopted them
• Friends and charities you'd like to remember get nothing
• Your spouse might have to share your estate with your children

A will puts you in control. You can leave your estate to whoever you choose, in whatever proportions you decide.

Protect your children

If you have children under 18, a will lets you name guardians - the people who would look after your children if you're no longer able to. Without this, the court decides, and they may not choose who you would have chosen.

You can also set up trusts within your will to manage money for your children until they're old enough to handle it themselves. Many parents choose to delay inheritance until children are 21 or 25, rather than letting them inherit everything at 18.

Reduce inheritance tax

Careful will planning can significantly reduce the inheritance tax bill on your estate. Options include:

• Using your spouse's nil-rate band effectively
• Leaving at least 10% to charity (which reduces the IHT rate from 40% to 36%)
• Making use of business and agricultural relief
• Setting up trusts for future generations

Make things easier for your family

Dealing with someone's affairs after they die is hard enough without uncertainty about their wishes. A clear will makes the process much easier:

• Executors know what to do and have clear authority to act
• Beneficiaries know what they're entitled to
• Disputes and uncertainty are minimised
• The estate can be administered more quickly

It's easier than you think

Many people put off making a will because they think it will be complicated or expensive. With modern online services like ours, you can create a solicitor-checked will in about 15 minutes, from the comfort of your home. And with lifetime updates — free for your first year, then a low annual subscription — you can change it whenever you need to.

When should I make a will?

Now. Whatever your age or circumstances, you should have a will. Key life events that should definitely prompt you to make or update a will include:

• Getting married (marriage cancels previous wills)
• Having children
• Buying property
• Divorce or separation
• Death of a beneficiary or executor
• Significant changes in your assets