8 Reasons to Make a Will, Even If You Keep Putting It Off

Making a will is one of those jobs that can remain on your mental to-do list for months or even years.

It sits somewhere between reviewing your pension, organising the cupboard under the stairs and replying to that email you have already marked as unread three times.

However, there is no perfect age to make a will. The important question is not, “Am I old enough?” It is, “Would the people close to me know what I wanted if something happened?”

A will allows you to record who should benefit from your estate, who should deal with it and who you would want to care for children under 18.

Here are eight reasons to make a will.

1. You own a home or are buying one

Buying a home is often the point when people first have a significant asset to protect.

A will can help make clear what should happen to your interest in the property after your death. This can be particularly important if you own with another person or contributed different amounts towards the purchase.

The way the property is legally owned will also affect what happens. That is why it is sensible to consider your will alongside your conveyancing arrangements.

2. You live with a partner but are not married

Many people assume that living together for several years gives them the same inheritance rights as a married couple. Under the current law in England and Wales, it does not.

An unmarried partner does not automatically inherit under the intestacy rules, regardless of how long the couple has lived together. The Government is considering reforms, but the existing rules still apply.

A will can record what you want your partner to receive rather than leaving them to deal with uncertainty at an already difficult time.

3. You have children or stepchildren

For parents, one of the most important reasons to make a will is the ability to name the people they would want to care for children under 18.

These people are known as guardians. Naming them provides valuable guidance if both parents die while the children are still young.

A will can also explain how you want children to benefit financially. This is particularly important if you have stepchildren or a blended family and want specific people to inherit.

It is not an easy conversation. Most parents would rather discuss almost anything else. However, making your wishes clear can reduce uncertainty for everyone involved.

4. You want to choose who deals with your estate

The people responsible for carrying out the instructions in your will are called executors.

Most people choose someone organised, trustworthy and calm. This may be a relative, friend or professional. GOV.UK confirms that executors named in a will can apply for probate and administer the estate.

Choosing an executor means you can decide who you trust with the responsibility rather than leaving the appointment to the intestacy process.

5. You have savings, investments, a business or financial policies

Your estate may be worth more than you realise.

As well as property and savings, you may have investments, business interests, valuable possessions or money owed to you.

Pensions and life insurance policies can have their own beneficiary arrangements. These should be considered alongside your will rather than assumed to form part of it automatically.

For business owners, making a will can also form part of wider succession planning. Without a clear plan, your family and business partners could be left trying to work out what should happen next.

6. You want certain belongings to go to particular people

Not every important gift has a large financial value.

You may want a family member to receive jewellery, photographs, military medals, artwork or a much-loved collection. Sometimes the object everyone cares about is not the expensive one. It is the old watch, recipe book or slightly battered ornament that has been in the family for years.

A will can make these wishes clear and reduce the risk of disagreement or misunderstanding.

7. You want to support a charity or local cause

A will allows you to leave money, property or a particular item to a charity.

You can leave a fixed amount, a specific gift or part of what remains after other gifts have been made. Charitable gifts can also affect the Inheritance Tax position of an estate, depending on the amount left and the wider circumstances.

This can be a meaningful way to support an organisation or cause that has mattered to you during your lifetime.

8. You do not want the law to decide who inherits

If you die without a valid will, you are described as dying “intestate”.

The intestacy rules then determine which relatives inherit and in what order. The outcome may be very different from what you would have chosen yourself. Friends and unmarried partners do not currently inherit automatically under these rules.

If there are no entitled relatives and no valid will, the estate can ultimately pass to the Crown as ownerless property.

Making a will means the decision remains yours.

Am I too young to make a will?

A will is not really about age. It is about whether you have people, property or wishes that matter to you.

Someone in their late 20s who owns a home and lives with a partner may have a greater need for a will than someone much older with few assets and no dependants.

Life can also change quickly. You may buy a property, have a child, receive an inheritance or start a business. These are all sensible points to make or review a will.

What do I need to decide before speaking to a solicitor?

You do not need to arrive with a perfect plan. A useful starting point is to consider three questions:

What do I own?
Think about your home, savings, investments, business interests and important belongings. You do not need to catalogue every mug, charger and loyalty card.

Who would I trust to deal with everything?
Consider who would be suitable to act as your executor and whether they would be willing to take on the role.

Who would I want to benefit?
This may include your partner, children, relatives, friends, charities or a combination of people and organisations.

Making a will can be simpler than you think

Making a will does not need to feel dramatic or overwhelming. You do not have to understand every legal term before you begin.

At JR Levins, our Wills and Probate team can explain your options and prepare a will that reflects your circumstances and wishes.

You can get the process started by completing our simple online form. Our team will explain what information is needed and guide you through the next steps.

Speak to Karla Cope

Our Wills and Probate team can help you understand your options and prepare a will that reflects your wishes.

Contact us today on 0151 480 5777 – option 4, or email wills@jrlevins.co.uk