A will allows you to dictate what happens to your assets, how they are divided, and who will look after your children; it gives you peace of mind that your affairs are in order when you die. If you do not make a will, the law will decide who inherits your estate. Thus, if you want to make specific provisions for family, friends and/or charities, make a will!
The law still does not recognise unmarried or co-habiting partners who live together as having the same rights as a husband and wife or civil partners. Consequently, despite the length of your relationship, your partner will not receive anything from your estate if you do not have a will, and vice-versa.
A will is also vital if you have children or dependants such as an elderly parent who you may support financially. Without a will, uncertainty may arise regarding who will look after your children/dependants and whether they will have financial provision after your death.
Specific gifts and cash legacies- Your will allows you to leave certain items to friends and family, or to leave a sum of money to a person or organisation, such as a charity.
If you live in England or Wales and die without writing a legally valid will, the government will decide who gets what. If you have no living family members, all your property and possessions will go to the Crown. If you have children under 18 years old, other people can make decisions about who will take care of the children and manage their finances, education and living arrangements. By making a will you can specify your wishes.