Even if you have no children or dependents it is always important that you have a valid will. The main reasons for this are:

• It will show exactly where you want your money, possessions and property to go after you die.
• Dying intestate (without a valid will) makes it very difficult for family members to finalise your estate and causes unnecessary anxiety and distress.

What do I need to do?

Don’t wait – if you do not have a valid will the courts will simply divide your Estate the most logical way between your Family Members. Not only might this not be the way you wish it to be split but having to go through the courts is stressful and time-consuming.

Think about all eventualities – remember you are writing a will to last a few years so if you have young children you will need to make allowances for as they get older and their needs change.

Choose an executor – this is the person who will be in charge of organising everything and tying up your estate. Usually you choose two executors and they can be friends or Family members. It is probably wise to talk your choices through with them.

Make choices about your funeral arrangements – this is your opportunity to make it known, within reason, what kind of funeral you would like, whether you would like to be buried or cremated etc. You executor will do everything they can to uphold your wishes.

Things to look out for

Make sure your will is legally valid – this is very simple; all you need is a document stating your wishes that is signed and dated by yourself and two witnesses. The witnesses must be independent and not beneficiaries of the will.

Be careful about small bequests – ask anyone who has been an executor and they will say that one of the hardest things to deal with is when small bequests are made of individual items such as jewellery which then cannot be found. If you would like someone to have something either consider giving it to them now or make sure it is clearly marked in an easy to identify location.

Don’t pay unnecessary fees – if you have a complicated will you might want to use a solicitor at a cost of between £150 and £300. If, however, your situation is more straightforward you can use a template from a shop for around £10 or there are many online forms available.

For much more information about writing and a will and what happens if you don’t please take the time to read the excellent guide on the Money Advice Service website.

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