Writing a will
Many people don’t have a will, but if you die intestate (without one) then the law will decide who benefits from your estate and that may not necessarily be in line with your wishes. You can use the Government’s intestacy tool to find out who is entitled to a share of your estate in the absence of a will.
A will is used to do three things:
• It explains who you’d like to sort out your estate after you’ve died (executors)
• It can dictate who is to receive what from your estate
• It can be a useful tool in managing the amount of Inheritance Tax that’s paid
For most people, it makes sense to get advice from a professional will writer. Many solicitors have a will writing department. However, you can buy a ‘do it yourself’ kit from certain newsagents and from the internet.