Amongst Age UK’s many helpful factsheets, there’s one dedicated to making a will. Its’ something many of us have already done, but f you are still to take the plunge, the factsheet is a great place to start for some good, down-to-earth advice.
It is important to make a will for many reasons. You may want to be sure who inherits your assets, or protect yourself from Inheritance Tax, or you may want to pass specific items onto children or other relatives.
In particular, if you do not make a will, your estate may be distributed by the state according to intestacy rules. This means your estate is divided in a pre-determined way and this may not be to the people who you wanted to benefit. It may not be carried out in the most tax-efficient way. You can make your own will and there are packs to help you do this available from shops or online.
However, except in the simplest cases, it is generally advisable to use a solicitor who specialises in drafting wills. If there is a problem with the drafting or formalities of your will, it may prevent your wishes being carried out and can cause difficulties for those left to sort out your estate.
