"We have the peace of mind of knowing that our affairs are in order and we will be helping some of our favourite causes at the same time."
An up-to-date Will ensures that you control what happens to your property, belongings and money. Unfortunately, only about a third of us have a Will. Without one, the State directs who inherits - so your relatives, friends and favourite charities may get nothing.
A Will is vital if you have children or dependants who may not be able to care for themselves. Without a Will there could be uncertainty about who will provide for them if you die. For example, if you have any children that may still be under 18 when you die you may need to name someone as their legal guardian.
It is particularly important to make a Will if you are not married to your partner. The law doesn't automatically recognise partners as having the same rights as husbands and wives. Even if you've lived together for many years, your partner may be left with nothing if you have not made a Will.
Inheritance Tax affects what you own. Mainly owing to rising property values, millions of people now have assets that take their estate beyond the £300,000 mark that triggers Inheritance Tax. A properly drawn Will can legitimately help you avoid Inheritance Tax on your estate.
You should review your Will every few years to ensure that it still adequately reflects your circumstances. For example, marriage, separation or divorce can make all or part of a Will invalid or inadequate.
For more detailed guidance, visit www.lawsociety.org.uk/documents/
downloads/CCG_eng_will.pdf
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