A will is one of the most important legal documents you will have, not just for you but for your family and loved ones too. It names the people who you want to receive the property and possessions you own at the date of your death and appoints people to act as executors and trustees who must ensure that the terms of the will are carried out.
A will should be a very carefully prepared document. If it is not done correctly it can result in an unintended outcome in the distribution of your entire estate. Furthermore it could also result in expensive court proceedings to try and rectify any problems.
There is a common belief that if you do not make a will the government inherits your estate. This is not the case unless you have no living relatives. The law imposes a set form of will for those who die without a will but that set form is often not what a will maker would wish for.
Having a will ensures that your assets no matter the size, are distributed in accordance with your wishes. If you die without a will, the law sets out how your assets, and most cherished possessions will be distributed. This means, the most cherished people in your life, your family members, friends or your favourite charities may miss out or receive an insufficient share.