Find Out Why Everyone Needs A Will

Making a will is one of the most important things you will ever do to protect your family. The position for married and unmarried couples is different. Read on for some of the good reasons why.

Six things that could happen if you die without making a will

1) If you are married with children and the legacy you have is worth more than £125,000 your spouse will receive no inheritance.

2) If you do have any children, but you are married and the legacy that you leave after your death equates to more than £200,000 your spouse will not inherit everything.

3) If you are living as an unmarried couple, your partner will not inherit anything and even if you own your home jointly, it may not pass automatically to him or her. An insurance policy may not pay off your joint mortgage.

4) If you have stepchildren, without a Will, they will not inherit anything from you.

5) If you have separated from your wife/husband but you have not obtained a divorce, then that person will still be entitled to inherit after your death.

6) You lose freedom of choice.

Six reasons why you should make a Will

1) To ensure that all you own and worked hard for, ends up in the right hands.

2) Because your estate is actually worth a lot more than you anticipated.

3) If you die without a Will, all your wealth will be divided by law, without regard for your personal wishes. Everything will not automatically go to your partner.

4) Not leaving a Will could create problems for your family at a time when they do not need any further worry.

5) If you have children, particularly if you are separated or unmarried, you can choose the person you would like to act as guardian.

6) You can ensure that your chosen charity benefits and no tax is deducted.

Five simple steps before making a Will

1) Before you see a solicitor, list you assets and consider whom you would like to provide for an in what way.

2) Consider whether you would like to leave money 'in trust' for children or grandchildren until they are grown up and at what age you think they should inherit.

3) Chose someone to act as executor who will wind up the estate upon your death. This could be your partner, a beneficiary or your solicitor who has the knowledge and experience to make sure your wishes are fulfilled.

4) Consider whether you would like to leave some money to charity (this can minimise a tax liability).

5) Never try to make a homemade Will or let someone who is not a qualified lawyer draft your Will. On numerous occasions this will mean that the Will is invalid and people who could legally entitled to claim become involved in contesting your Will - a growing trend which not only proves expensive but which can also divide families permanently.

Amazingly only about 70% of British adults have valid up-to-date wills. Make sure you're not one of them - if you haven't got a will, or if your circumstances have changed recently, instruct an experienced wills solicitor - you may be surprised how little peace of mind costs.