Why Making a Will Matters: Your Complete Guide to Protecting Your Legacy

Most of us don’t like thinking about death. It’s uncomfortable, it feels morbid, and there’s always tomorrow to sort it out, isn’t there?

Except the reality is,  if you die without a will in the UK, the government decides what happens to everything you’ve worked for. Your house, your savings, even who looks after your children and their rules might not match what you would have wanted at all.

Making a will is one of the most valuable gifts you can give your family.

The Real Cost of Dying Without a Will

When someone dies without a will (called dying “intestate” in legal speak), the law follows a strict set of rules about who gets what. These rules are rigid and often surprising.

Here’s what might shock you:

If you’re married with children and you die without a will, your spouse doesn’t automatically inherit everything. Under intestacy rules, your spouse receives your personal belongings and the first £322,000 of your estate, plus half of anything above that amount. The other half goes to your children. Sounds fine? Not if your main asset is a family home worth £400,000, suddenly your spouse might need to sell the house to give your children their share, or face complicated legal arrangements to stay in their home.

Even more concerning:

Unmarried partners,  no matter how long you’ve been together, you get nothing under intestacy rules. Absolutely nothing. Even if you’ve been together for 30 years and raised children together, the law doesn’t recognise your relationship without a will.

And if you have children from a previous relationship? Without a will clearly stating your wishes, you’re setting up your family for potential conflict at the worst possible time.

More Than Just Money: What a Will Really Does

Yes a will determines who gets your assets. But it does so much more than that.

Your will is how you:

Protect your children. This is perhaps the most critical function of a will. If you have children under 18, your will is where you appoint guardians, the people who will raise your children if both parents die. Without this in writing, the courts decide. Would you really want a judge who’s never met your family choosing who raises your children?

Reduce family conflict. Grief makes people behave in unexpected ways. Clear instructions in a will remove ambiguity and reduce the chance of family disputes. It’s not about suspecting your family will fight, it’s about removing any possibility of confusion during an emotionally devastating time.

Support causes you care about. Want to leave something to a charity that’s important to you? You can only do this through a will.

Protect vulnerable beneficiaries. If you have children with disabilities or family members who aren’t good with money, a will lets you set up trusts to protect their inheritance and ensure it’s managed properly.

Minimise tax bills. While this isn’t the main reason to make a will, proper planning can significantly reduce the inheritance tax your family might pay. More of your hard-earned wealth goes to the people you care about, not to HMRC.

What to Expect When You Visit a Solicitor

Making a will isn’t as daunting as you might think. Understanding what happens takes away much of the anxiety.

Your first meeting will typically last about an hour. The solicitor will ask you questions about your family, your assets, and what you want to happen. They’re not being nosy, they need this information to ensure your will is comprehensive and legally sound.

Here’s what they’ll want to discuss:

Your family structure. Marriages, divorces, children (including stepchildren), grandchildren, all of this matters for your will. Be prepared to discuss previous relationships honestly. If you have children from a former marriage, this is crucial information.

Your assets and debts. Everything you own and everything you owe. The solicitor needs to understand the full picture to give proper advice about tax planning and how to structure your estate.

Your executors. These are the people who will carry out your wishes after you die. It’s a big responsibility, so choose carefully. Your solicitor will explain what’s involved so you can make an informed choice.

Your wishes for distribution. Who gets what, and when. This is your opportunity to think carefully about fairness, practicalities, and any specific items with sentimental value.

Guardianship for children. If you have young children, you’ll discuss who you’d trust to raise them. This conversation can be emotional, but it’s essential.

Your funeral preferences. While not legally binding, you can include guidance about your funeral wishes in your will or a separate letter of wishes.

After this meeting, the solicitor will draft your will. You’ll then have a second appointment to review and sign it in front of witnesses. The whole process typically takes 2-4 weeks from start to finish.

Your Pre-Appointment Preparation Checklist

Walking into your solicitor’s office prepared makes the process smoother, faster, and more comprehensive. Here’s what to gather before your appointment:

Personal Information You’ll Need:

• Full legal names, dates of birth, and addresses for you and your spouse/partner
• Full names and dates of birth of all your children
• Contact details for the people you’re considering as executors
• If you have minor children, names and contact details of proposed guardians
• Details of any previous marriages or divorces

Financial Information to Compile:

Property and Land:

• Addresses and approximate values of any property you own
• Details of any mortgages or secured loans
• Information about whether you own property as “joint tenants” or “tenants in common” (check your property deeds – this matters for inheritance)

Bank Accounts and Savings:

• List of all banks and building societies where you hold accounts
• Approximate total savings (you don’t need exact figures to the penny)
• Details of any ISAs or Premium Bonds

Investments and Pensions:

• Pension scheme details (company pensions and personal pensions)
• Investment portfolios or shares
• Life insurance policies and their approximate value
• Any other investment products

Business Interests:

• Details of any businesses you own or have a stake in
• Partnership agreements or shareholder information

Valuable Possessions:

• Jewellery, artwork, or collections worth more than a few thousand pounds
• Vehicles
• Any items with significant sentimental value you want to leave to specific people

Debts and Liabilities:

• Outstanding loans or credit cards
• Any other money you owe

Important Documents to Take With You:

• Proof of identity (passport or driving licence)
• Previous will, if you have one (you’ll need to revoke it)
• Any prenuptial or postnuptial agreements
• Details of any trusts you’re involved in
• Business partnership agreements
• Property deeds (if easily accessible)

Things to Think About in Advance:

Who should be your executors? You can have up to four, but two is common. Choose people who are:

• Trustworthy and organised
• Younger than you (they need to outlive you to act)
• Willing to take on the responsibility (ask them first or at least!)
• Ideally financially competent

Many people choose a spouse and an adult child, or two adult children together. You can also appoint a solicitor or professional executor for complex estates.

How do you want to divide your estate? Think about:

• Equal splits versus needs-based distribution
• Whether stepchildren should be treated the same as biological children
• Specific gifts of sentimental items
• Whether you want to include charitable donations

What happens if your first choice beneficiaries die before you? Your will should include “substitution clauses” – if your child dies before you, does their share go to their children (your grandchildren), or back into the pot for your other children?

Who should be guardians for your children? Consider:

• Their parenting style and values
• Their age and health
• Their financial situation
• Where they live (would your children have to move?)
• Their relationship with your children
• Whether they already have children

Have an honest conversation with your chosen guardians before naming them. It’s a huge responsibility, and they need to be willing.

Common Questions People Ask

“How much will this cost?” A simple will from a solicitor typically costs £150-£500. More complex wills involving trusts or business interests cost more. Yes, there are cheaper DIY options and online templates, but a solicitor ensures your will is legally sound and takes into account tax planning opportunities. Getting it wrong could cost your family thousands.

“Can’t I just write it myself?” Technically, yes. Legally, you can write a will on a napkin if you sign it properly with witnesses. But would you perform surgery on yourself to save money? Wills have strict legal requirements, and errors can make them invalid or lead to expensive disputes. The peace of mind of professional drafting is worth the cost.

“What if my circumstances change?” You should review your will every five years and after major life events: marriage, divorce, having children, house moves, or receiving an inheritance. You can make small changes with a “codicil” or draft a new will entirely. Never cross things out or write on your will – this can invalidate it.

“Do I need to tell people what’s in my will?” Not legally, but having conversations with your family about your general intentions can prevent surprises and hurt feelings. You don’t need to disclose exact amounts, but letting your children know you’ve made a will and explaining your reasoning for certain decisions can avoid misunderstandings.

Beyond the Will: Documents to Consider

While you’re thinking about the future, consider creating:

Lasting Powers of Attorney (LPA): These let you choose who makes decisions about your health and finances if you lose mental capacity. Unlike a will, these take effect while you’re alive. They’re separate legal documents but equally important.

A Letter of Wishes: This non-binding document sits alongside your will and can include more personal guidance about funeral preferences, sentimental items, or explanations for certain decisions.

Nominating Beneficiaries: This can be done on your pensions and on some insurance policies.

An Asset List: Keep a simple list (not in your will) of where important documents are kept, account details, and passwords. Update it regularly. Your executors will thank you.

The Real Cost of Delay

At Wellington Wealth we often see these issues: families torn apart by preventable disputes, children forced to sell the family home, partners left with nothing and thousands of pounds unnecessarily paid in tax, all because someone kept putting off making a will.

The average funeral in the UK costs over £5,000. If your estate enters intestacy, the legal costs to sort everything out can be significantly higher under intestacy, especially where disputes arise . Add potential inheritance tax complications, and you’re looking at a substantial chunk of your family’s inheritance disappearing into legal fees and tax bills.

But the financial cost pales in comparison to the emotional cost. Families dealing with unclear wishes during grief often develop rifts that never heal.

Your Next Steps

Making a will isn’t about being pessimistic or dwelling on death. It’s about being responsible and caring. It’s about protecting the people you love and ensuring your life’s work benefits them in the way you choose.

Here’s what to do now:

Start gathering the information from the checklist above. You don’t need everything perfect, just make a start.

Then, book an appointment with a solicitor who specialises in wills and estate planning. If you’re not sure where to start, look for solicitors who are members of The Society of Trust and Estate Practitioners (STEP) or the Law Society’s Wills and Inheritance Quality Scheme (WIQS). Check out free will writing month that some solicitors subscribe to.

And if your finances are complex or you’re concerned about inheritance tax, speak with a regulated financial adviser before you see a solicitor. They can help you understand tax-efficient strategies like lifetime gifting, pension planning and trust structures that can work alongside your will to protect more of your wealth for your family.

The hardest part is making the decision to do it. Once you’ve taken that step, the process is straightforward, and the relief you’ll feel afterwards is immense.

Don’t leave your family’s future to chance. Don’t let the government decide what happens to everything you’ve built. Make your will, and give your family the gift of clarity, security, and peace of mind.

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Important Information:

This article is for general information only and does not constitute financial or legal advice. Inheritance laws, tax rules, and intestacy rules can change, and your personal circumstances will affect what’s right for you. For specific advice tailored to your situation, please consult a qualified solicitor for will drafting and a regulated financial adviser for estate planning and inheritance tax advice.

 

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BE AWARE

This information is for guidance only and does not constitute regulated financial advice. To ensure you have personalised advice for your particular set of circumstances, you must make an appointment and speak to one of our professional advisers. Please note these services are chargeable. The facts in this article were correct at time of writing, but you may be reading it in the future. Always check rates and allowances before taking action or speak to a qualified financial planner. All investments carry an element of risk, they can fall as well as rise and you may not get back what you pay in. Errors & omissions excepted.

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