Why Should I Make a Will?
Creating a will is one of the most important steps you can take to protect your loved ones and ensure your wishes are respected after you're gone. While it might feel like a task you can put off, having a will in place offers peace of mind and clarity when it matters most.
Here are some key reasons why making a will is a smart and responsible choice:
You stay in control – A will gives you the power to decide exactly how your estate is handled and who inherits what.
Prevent family disputes – With your wishes clearly stated, there’s less room for confusion or disagreements among loved ones.
Protect your children – If you have children under 18, a will allows you to name a legal guardian, ensuring they are cared for by someone you trust.
Make your funeral wishes known – You can outline your preferences for your funeral, helping your family honour your memory in the way you’d like.
Ease the burden on your loved ones – A well-drafted will can significantly reduce the administrative stress and paperwork your family faces during a difficult time.
Plan for tax – Thoughtful estate planning through a will can help reduce the amount of Inheritance Tax your estate may owe.
What Happens If I Die Without a Will?
If you pass away without a will, you are considered to have died “intestate”. This means your estate will be distributed according to a strict legal process known as the rules of intestacy regardless of your personal wishes.
The Rules of Intestacy: Who Gets What?
If you don’t have a will, and you die without a spouse or civil partner but have children, your estate will be divided equally between your children. If one of your children has passed away, their share would go to their children (your grandchildren).
In England and Wales, the order of inheritance after children is:
Living parents
Full-blood siblings
Half-blood siblings
Grandparents
Aunts and uncles (full-blood)
Aunts and uncles (half-blood)
If no living relatives can be found, your entire estate goes to the Crown or to the Duchy of Lancaster or Cornwall, depending on where you live.
Without a will, you lose control over where your assets go, and your estate could end up in the hands of someone you never intended to benefit. Writing a will is the only way to ensure your legacy is passed on according to your values and your wishes.
At Trueman Bailey Law, we offer extensive experience and deep expertise in Estate Planning. We are dedicated to guiding you through these important and sensitive matters with the utmost care, ensuring that your wishes are clearly documented and respected when the time comes.