Free Wills Month takes place in March and October every year. The week is supported by several charities, with the hope that those who take advantage of it may consider leaving a legacy in their will to charity. This year, charities involved in the scheme include Oxfam, Mencap, Mind, Guide Dogs, NSPCC and Marie Curie. You can find out more about the scheme and find participating charities and solicitors near you at the Free Wills Month website at Free Wills Month.

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Here, we explain why having a will is so important.

  • It’ll reduce stress for your loved ones

If you die with a will in place, then your estate will go into probate and it will be up to the courts to decide who is entitled to any inheritance using intestacy laws. This is often a lengthy process but it can also be very stressful for your loved ones, especially if they know your assets aren’t being distributed in the way you would have wanted them to be.

  • You can state who you want to look after any dependants

If you have younger children or grandchildren living with you, your will can detail who you would like to be their guardians when you die. Olly Cheng, Financial Planning Director at Rathbones Group, said: “It’s a huge decision to make, so make sure you speak to those who you’d want to appoint as guardians first. By not creating clear instructions, this decision could be left to the authorities on your death and their decision may not reflect your wishes.”

  • Your assets will go to who you want them to

Detailing who you want to get what in your will means you’ll have peace of mind that your assets will be go to exactly who you wanted them to.

Ian Dyall, Head of Estate Planning at Evelyn Partners, said: “Having wills in place is especially crucial for unmarried couples in long-term relationships - as the intestacy rules could lead to an unwelcome distribution of assets at death - and for blended families where uncertainty and misunderstanding can arise. Where the family home is not jointly owned, that could also create issues at death and couples can consider how their property is owned at the same time as looking at wills.”

  • You can leave a legacy to a charitable cause

Many people prefer to leave money to causes close to their heart when they die, rather than making gifts whilst they are alive, so that they can help even when they’re gone.

It’s worth noting that if your estate is likely to be liable for Inheritance Tax, leaving a gift to charity in your will could not only benefit them, but may also help keep your tax bill down. For example, if you leave 10% of your estate to charity, the rate of inheritance tax is reduced to 36% from 40%, so the taxman takes a smaller proportion of your estate.

Write your Will online with Which? and receive 20% off

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Set up a Lasting Power of Attorney here

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