It is important for you to make a will whether or not you consider you have many possessions or much money. It is important to make a will because:-
- if your circumstances have changed, for example, if you have separated and your ex-partner now lives with someone else, you may want to change your will.
- if you die without a will, there are certain rules which dictate how your money, property or possessions should be allocated. These rules may result in your money and possessions being distributed in a way that you are not comfortable with.
- unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a will, so the death of one partner may create serious financial problems for the remaining partner
- if you have children, you will need to make a will so that arrangements for the children can be made if either one or both parents die
- it may be possible to reduce the amount of tax payable on the inheritance if advice is taken in advance and a will is made.
Family Law Advice can refer you to excellent and cost-effective specialists who will help you prepare your will.