Belinda Butler-Smith and Sophie Andrews answer some of the key questions our clients ask us concerning making a Will.

1. What happens if I don't have a Will?

If you die without making a Will, you will be said to have died "intestate". If this happens anything you own will be distributed under the intestacy rules. This means the law sets out who should deal with your affairs and who should inherit your estate (money, property and personal possessions). If you die without leaving a Will, it means that you could leave friends and family to deal with complicated affairs in handling your estate.

It may, for example, mean that your civil partner or spouse will have to share your estate with your parents. In some cases that may be a recipe for disaster!

To find out more about what would happen to your assets without a Will, please click here to request a copy of our Intestacy Chart.

2. Do I still need a Will if I have nothing to leave?

Even if you think that your estate is a relatively worth a small amount of money, it is still important to get a properly drafted Will in order to ensure that your wishes are carried out in other matters. For example, if you have children, you will need to appoint guardians to care for them if they are under 18.

3. What is the best way of making a Will?

Having a legally valid Will drawn up by a professionally qualified expert solicitor is an effective way to ensure that you protect those that you care about, and potentially saves your loved ones the time, stress and additional expense of trying to sort out your affairs.

Whilst it may seem like writing a Will with a Will-writer using a kit or a software programme is a cheap and simple route, it can often mean that significant tax savings are overlooked, as well as factors that a legal expert would be able to highlight. Always bear in mind that your Will is one of the most important documents you will ever sign - it is much better to make sure that it is right.

Solicitors are also highly regulated which provides you and your beneficiaries with protection in the unlikely event that something goes wrong.

4. Why do some Wills contain trusts?

There are many reasons to include trusts within Wills. Trusts can be used to protect your beneficiaries and can enable you to shelter assets and to make the most of tax saving opportunities. You can also use a trust to look after assets that you want to pass on to beneficiaries who can't immediately manage their own affairs.

5. Once I have made a Will, do I need to do anything else?

As life goes on and your circumstances change (such as getting married, divorced, or having children), it is likely that your wishes for the division of your assets and belongings will also change.

You should review and reconsider the contents of your Will at least every five years and after any substantial change to your family or affairs. The most common changes that affect Wills are:

  • marriage or re-marriage
  • divorce or separation
  • birth or adoption of children
  • moving or selling property

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.