Making a will: what you need to know

A will sets out who should inherit your money, property and belongings when you die, who should deal with your estate, and who should look after your children if they are under 18. Without one, the law decides who inherits, and the result may be very different from what you would want.

What happens if you don't make a will?

If you die without a valid will, your estate is shared out under the intestacy rules:

• If you are married or in a civil partnership and have no children, your spouse or civil partner generally inherits everything.
• If you have children, your spouse or civil partner receives your personal possessions, a fixed sum set by law (the "statutory legacy") and half of anything above that. Your children share the rest.
• If you are not married or in a civil partnership, your estate passes to your children, or if there are none to other relatives in a set order.

Unmarried partners have no automatic right to inherit, however long you have lived together. They may have to make a court claim under the Inheritance (Provision for Family and Dependants) Act 1975, which is stressful and costly.

How to make a valid will

Under the Wills Act 1837, a will is only valid if:

• you are 18 or over and have the mental capacity to make it;
• you make it voluntarily, without pressure from anyone else;
• it is in writing and signed by you (or by someone at your direction in your presence);
• you sign it, or acknowledge your signature, in the presence of two witnesses who are both present at the same time;
• both witnesses then sign it in your presence.

A witness, or a witness's spouse or civil partner, must not be a beneficiary. If they are, the will is still valid, but the gift to them fails.

Key decisions

• Executors: the people who will deal with your estate. Choose people you trust. A professional, such as a solicitor, can also be appointed.
• Guardians: who will care for your children if both parents die.
• Gifts: specific items or sums of money, and who gets the rest of your estate (the "residue").
• Trusts: for example, to hold money for children until they are older, or to protect a vulnerable beneficiary.
• Funeral wishes, which are not binding but help your family.

When to update your will

Review your will every few years and after any major life event. Note in particular:

• Marriage or civil partnership automatically revokes a will made before it, unless the will was made in expectation of that marriage.
• Divorce does not revoke your will, but your former spouse is treated as if they had died, so gifts to them and their appointment as executor fail.
• The birth of children or grandchildren, buying property, or a significant change in your wealth.

Never write on or alter a signed will. Changes should be made with a formal codicil or a new will.

Using a solicitor

Will writing is not a reserved legal activity, so anyone can offer it. Using a regulated wills solicitor means your will is drafted by a qualified professional with insurance, and you have access to the Legal Ombudsman if something goes wrong. A solicitor is particularly advisable if you have a blended family, own a business or property abroad, want to reduce inheritance tax, or want to leave money in trust.

Lasting powers of attorney

While planning your will, consider lasting powers of attorney (LPAs). These let people you trust make decisions for you if you lose mental capacity. There are two types: one for property and financial affairs, and one for health and welfare. LPAs must be registered with the Office of the Public Guardian before they can be used.