Why make a will?
Making a will is important if you want to make sure your wishes will be met after you die.
It can be difficult to talk about, but in the event of your death it will ensure that your estate goes to the people you care about.
Wills can also stop family arguments, removing additional stress at an already difficult time for the people closest to you. If you don’t make a will, your estate will be divided according to the law. Your family will have no control over who inherits your money and assets. The people or charities that you care about may end up missing out.
What is my estate?
Your estate is everything you own, including your money and savings, any properties you own, all your personal possessions, and any investments.
Valuation – what your estate is worth
When planning your will, it's a good idea to list your assets and debts. This gives you a clear picture of the value of your estate and will help you decide how to distribute it.
- your home and other property you own
- financial savings and investments
- jewellery, and
- personal belongings.
- credit card balances
You should have your assets valued regularly, as the price of things can frequently change.