Understanding Wills
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A will is one of the most important legal documents a person can make. It allows you to record your wishes, decide who should inherit your estate and appoint someone you trust to carry out those wishes after your death. Without a valid will, your estate may be distributed according to the law rather than your personal wishes.
This guide explains what a will is, why it's important and answers some of the most common questions people ask when thinking about making or updating one.
What Is a Will?
A will is a legal document that sets out what should happen to your money, property and possessions after your death.
It can also include:
- Who should inherit your estate.
- Who will act as your executor.
- Funeral wishes (although these are not legally binding).
- Guardians for children under 18.
- Gifts to charities or organisations.
Why Is It Important to Make a Will? Making a will can help ensure that your wishes are carried out and may reduce uncertainty for your loved ones. A will can help you:
- Decide who inherits your estate.
- Choose your executor.
- Appoint guardians for young children.
- Leave gifts to family, friends or charities.
- Help reduce disputes between family members.
What Happens If There Is No Will?
If someone dies without leaving a valid will, they are said to have died intestate. In these circumstances, the estate is distributed according to the Rules of Intestacy. This may not reflect the person's wishes and could mean that some people do not inherit.
The Rules of Intestacy set out who inherits your estate, but they don't take account of personal wishes, friendships or unmarried partners in many circumstances.