Wills aren’t just for the wealthy.

It’s important for everyone to plan ahead, but did you know that over half of the adults in the UK don’t have a will?

Without a clear Will in place, your wishes may not be followed in the event of your death, and those who you would like to inherit your estate may not automatically do so.

What happens if I die without a Will?

If you have a property, it will be distributed in line with laws which may not reflect your wishes.

If you’re not married or in a civil partnership, your partner won’t automatically inherit your estate unless you’ve made a Will to say that they should. Instead, your estate will pass to your children (if you have any) once they turn 18. A Will is vital if you want to protect your partner’s home or their other financial affairs.

If you are married or in a civil partnership, your estate will go entirely to your spouse if you don’t have children or will be split between your spouse and children if you have a family. Depending on the value of your estate, this may result in your family receiving a sizeable Inheritance Tax bill.

By making a Will, you can plan for the tax-efficient distribution of your estate to make sure you protect the interests of those you care about.

Could a Will help my family save on tax?

When you die, your estate may be subject to Inheritance Tax or Capital Gains Tax. In fact, more and more estates are now becoming subject to Inheritance Tax as a result of inflation and rapid increases in house values.

Professional estate planning helps you to get your affairs in order, lets those close to you know what to expect, and helps to provide long-term financial security for your family, saving time and legal costs further down the line.

Peace of mind

Setting out your Will provides you with peace of mind knowing that your wishes will be respected, your loved ones protected and a clear plan in place.

How can I get started with my Will?

Making a simple Will is easy through Adroit Legal Services benefits as a PayPlan client. Established in 2015, Adroit connects you to quality-assured, affordable, and accessible legal services from recognised, trusted and experienced experts.

You can choose to write your free Will online, in-person or over the phone during Free Wills Month this March.

  • Online: Get started online. Experts at Octopus Legacy will offer support and an easy-to-follow process as you prepare your draft Will online. A team of experts checks over each Will before you sign and witness it.
  • Phone: Get started over the phone or in person with Adroit Legal Services – just call 0800 773 4014

Free Wills Month ends on March 31st, 2024.

If you need more in-depth estate planning advice, or Wills for others, such as your spouse, their Will writers will provide you with a fee quote.

This article has been prepared by PayPlan and Adroit Legal Services and is not intended to constitute legal advice.