A will helps you get your finances in order, make inheritance plans and ensure your loved ones are looked after. But why should you make a will? Find out.
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Despite the benefits of writing a will – getting your finances in order, planning your legacy and making sure your loved ones are looked after - many of us are yet to organise our affairs.
According to The National Wills Report 2024, almost half (47%) of UK adults have not written a will, and nearly one-third (31%) of those aged 55 and over do not have a will either.
If you’ve put off writing a will until now, this article explains why writing a will gives you control over what happens to your property, money and assets when you pass away.
From protecting your assets and your loved ones to inheritance tax benefits, find out why making a will gives you peace of mind.
Why make a will?
A will is essential for ensuring your wishes are carried out upon your death. It gives you control over your assets, children, funeral arrangements and more. It allows you to decide how your estate is distributed, appoint specific guardians for your children, and avoid potential family disputes. Not only that, but a will also allows you to explain your preferred funeral arrangements and make other important decisions that impact family and loved ones.
People make a will for a variety of reasons, including:
- If you die without a will, the way that your assets are distributed is set out in law, which won’t necessarily be as you would’ve wished.
- Without a will, unmarried or unregistered partners can't usually inherit from each other, which could lead to serious financial issues for the surviving partner.
- If you have children, you can detail in your will your wishes regarding their care if one or both parents pass away.
- Seeking advice and making a will in advance may help reduce the amount of inheritance tax you must pay.
- If your circumstances change—such as separation, remarriage, or a civil partnership—it’s vital to update your will to ensure your assets are distributed as you intend.
Why is it important to make a will?
There are many reasons why it’s important to make a will. Without one, the law dictates how your assets are divided, which may not align with your wishes or preferences. That means your possessions and money may not be left to the people and causes you care about most.
Below are 10 possible reasons why you should make a will:
1. A way to get assets in order
Making a will often prompts a financial review, revealing gaps such as insufficient life insurance, lack of disability income benefit cover, or outdated nomination of beneficiaries details for those in an occupational pension scheme.
If you are making plans for the future, speak to a solicitor or legal adviser about other options you may have.
2. You decide who gets what
Without a will, intestacy laws determine who inherits your estate and in what order, often in ways you may not intend.
Making a valid will is relatively inexpensive compared to the problems that may arise without making a will.
If you’ve spent your life working to provide for family and loved ones, making a will ensures that your estate is shared according to your wishes.
A will is very important if you also want to ensure your property is passed on to a specific person or group of people, such a spouse or partner, or children. This can have some implications for inheritance tax, but that depends on the value of your estate, and who you decide to pass your property on to and when.
3. You can make specific gifts to specific people
Gifts in a will do not have to be property or cash but can be sentimental items of lesser material value.
Whether it’s a grandparent’s medals or a mother’s wedding ring, a will ensures those treasured items get passed down the line to the right people.
4. You can provide a charitable legacy
While the first consideration when writing a will is likely to be family and friends, many people often choose to leave gifts to charities to give a helping hand to causes close to their heart.
Any money you leave can make a significant difference, sometimes providing up to half of a charity’s income.
Without these legacies, much of their work would not be possible.
5. There can be tax-saving strategies
Leaving money to charity could also cut your inheritance tax bill. Some charities will even help you write a will if you leave them a donation.
In 2025, MoneyHelper says that by leaving 10% of the value of your estate to a charity[1], you can reduce the inheritance tax on some of your assets from 40% to 36%.
6. You choose the legal guardians
A will allows you to appoint one or more legal guardians for children if they have not yet reached adulthood.
Your chosen guardians will take over the role of bringing up the children on your behalf. It allows you to stay in control, and to entrust this important role to people you really trust.
7. You choose the executors
Choosing your own executor, a person responsible for implementing the terms of your will, can ensure that your estate will be distributed by someone you trust.
You can appoint people you know and trust to be your executors and administer your estate. Alternatively, you can appoint professionals to be your executors, although with professionals you will more than likely have to pay for this service and this is usually charged as a percentage of the estate you leave.
8. You ensure partners are looked after
There’s a common misconception that the rules provide for a ‘common-law’ husband or wife.
If you’re not married or in a registered civil partnership and you don’t have a will, under current law your partner won’t get anything under the laws of intestacy. A will ensures that couples who live together and that aren't married or in a registered civil partnership, can leave their assets to each other.
You could also take out a life insurance policy to make sure that your family is more financially secure.
9. A will should be updated
A will should be reviewed regularly and every time there’s a life-changing event, for example when a couple has a child or their children become adults.
Once you’ve got a will, it’s easy to amend – whilst you can rewrite parts of it with something called a codicil, it’s often better and simpler to write a new will.
10. Peace of mind
Making a will can take a weight off your mind by ensuring that your assets will go to the correct people.
Writing a will puts a person in the driving seat for the many important decisions, not just in their lives, but also those of their families and friends. Once written, many feel a great sense of relief when they can cross it off their ‘to do’ list – but make sure you update it when you need to.
Why should you make a will?
Seeking professional help with writing a will ensures your money, assets, and belongings are securely passed down to the next generation. For further guidance on creating a will, online resources are available from Citizens Advice and GOV.UK.
If you’ve lost a relative or loved one, you can also find out if someone has a will, where to look, and what steps to take if you can’t find one.
If you’re thinking about the future, speaking to a financial adviser could also help you plan for retirement and later life.
Contacts
The Law Society - www.lawsociety.org.uk
The Society of Will Writers - www.willwriters.com
Will Aid fundraising campaign - www.willaid.org.uk
STEP, advising families across generations - www.step.org
Sources
[1] The Moneyhelper, 5 ways to cut your Inheritance Tax, https://www.moneyhelper.org.uk/en/family-and-care/death-and-bereavement/a-guide-to-inheritance-tax
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