Do You Need a Will?

Do You Need To Make A Will Many people ask, "Do you need a will?" This question is actually better phrased as "when would you not need a Will?" This is because there are only limited circumstances when you are unlikely to need a Will, and then there is everything else.

You do not need a Will where:

you have no assets and your life is not insured; or
you have limited assets all of which can be nominated (e.g pension); or
you have assets but are happy for these to be distributed under the intestacy rules.

If you have any assets and wish to control who gets what and keep tax liability to a minimum you need a Will. If you also wish to dictate who will look after your finances if you become unable to do this yourself you also need a lasting power of attorney.

Plan to die with dignity ...

Further Information: Requirements for a Valid Will; Revocation of a Will; Lost Wills; Intestacy Rules; Will Executors; Gifts in a Will; Tax Planning; Living Trusts and Wills; Administration of Estates; Challenging a Will; Provision for family and dependants; Glossary

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