WILLS

By making a Will, you are in control of how your estate is distributed following your death.  

Without a Will, your estate will pass according to Intestacy laws and be managed by your nearest relative(s) which may well not produce the result you would want.  For example, in the case of a married couple with children, depending on the value, the estate of the deceased spouse would not necessarily all pass to the surviving spouse and instead might need to be shared with the children.  The intestacy laws also produce unsatisfactory results for unmarried couples (who have no entitlement) and for those who would not wish their closest family members to benefit.  The intestacy rules also provide for minors to inherit at 18, and of course take no account of Inheritance Tax and any planning you might be otherwise able to do to mitigate this.

The Will also appoints Executors who you trust to manage your estate, and can appoint Guardians for your minor children.  Funeral wishes are often also included, or set out in a separate document.

It can be tempting to try to save money by writing your own Will, or by employing an unregulated and/or unqualified person to do so, but this very often ends up being more costly in the long run.