Many people in the UK die without a valid Will, meaning they will have died intestate.

This can cause significant problems and difficulties for your relatives and loved ones, as the Intestacy Rules will apply, stipulating who receives your estate and in what proportions, meaning inadequate provision may be made for your intended beneficiaries.

It is often assumed that a spouse or civil partner would inherit the entire estate, but this is not the case where there are other surviving close relatives. Additionally, co-habiting partners and stepchildren do not benefit under the Intestacy Rules, which may prove problematic when dealing with blended families.

Will making is therefore important, in order to remove any uncertainty, ensuring that upon your death, your assets will pass to the people and causes that you care most about. Your Will is personal to you, allowing you to express any funeral wishes that you may have, deciding who should receive your personal possessions such as jewellery and other sentimental items, to cash gifts and other legacies. You can also appoint guardians who should have the legal responsibility of your children if you were to die whilst they were under the age of 18.

Even if you have a valid Will in place, it is sensible to review it on a regular basis, for example where there has been a marriage or civil partnership, divorce, change to executors or beneficiaries, a purchase or sale of property, or assets have been inherited. By taking professional advice, you can ensure your Will is up to date with current legislation and you can look at structuring your Will in certain ways, with an aim to potentially reduce or eliminate the amount of Inheritance Tax payable on your death.

If you are considering making a Will or wish to discuss this in further detail, then please do no hesitate to contact our Private Client team.