It is estimated that about 60% of people in the UK do not have a will. None of us want to think about death, but if you die without a will your loved-ones may not inherit your assets or be able to use them in the way you would want them to.
How to write a will
· You can go to a solicitor, use a will writer or even buy a do-it-yourself will kit. But if the will is not drawn up correctly it can lead to complications and even mean that the will is null and void.
· If you are co-habiting, have a young or a complicated family situation or if you want to make provisions for a dependant, it's a good idea to use a solicitor who will be regulated by the Law Society.
· Will writers tend to be cheaper but the industry isn't regulated by the Law Society and may not necessarily be fully trained or insured.
Information to prepare in order to make a will
· A list of everything you own, including property, savings, cars, jewellery, home contents, bank or building society accounts, any shares and insurance policies.
· A list of all you owe - mortgages, hire purchase agreements, loans or credit. Take these lists with you when you see a solicitor or will writer.
· Make a note of people or organisations who you want to benefit from your will.
· Decide who your executors will be - those responsible for sorting out the estate and carrying out your wishes. You can also appoint guardians for any children under 18.
The most important thing is that you do make a will. Many people think they do not have enough assets to warrant making a will but this is never the case, a will is about what you want to happen to any property you have and also about your wishes for your funeral and burial or cremation so that your relatives are aware of what you want at a time that is difficult enough for them.