Why is it important to have a Will?
Without a valid Will, an estate will be distributed under the intestacy rules, which may not reflect the deceased’s intentions. For example, under intestacy:
- Unmarried partners do not inherit.
- Where the deceased has children, spouses or civil partners must share the estate with them.
- Children inherit outright at 18, which may be too young to manage significant assets.
A Will can allow individuals to determine who should benefit (and in some cases, when), appoint trusted executors, and structure their estate in a tax-efficient way.
Additionally, a Will allows for the appointment of a guardian for the deceased's minor children. Without a valid appointment, the court will decide on an appropriate guardian.
If an individual is non-UK resident, is an English Will still needed?
Yes. English-situs assets, such as residential property, will fall within the English succession framework and having an English Will to cover these assets is usually advisable to avoid uncertainty and delays.
Should a Will be reviewed on marriage or divorce?
Yes. Marriage automatically revokes an existing Will (unless made in contemplation of that marriage). Divorce does not revoke a Will, but a former spouse or civil partner is treated as having died before the testator. In some cases, a Will must include provisions to comply with a financial order.
Must an estate be left to relatives?
No. English law provides testamentary freedom. However, under the Inheritance (Provision for Family and Dependants) Act 1975, certain people – such as spouses, children and financially dependent unmarried partners – may bring a claim if reasonable provision has not been made for them.
How often should a Will be updated?
A Will should be reviewed every few years, and after major life events such as marriage, divorce, the birth of children, or significant financial changes. Tax rules also evolve, and an out-of-date Will can create complications.
Can a Will assist with inheritance tax planning?
Yes. Well-drafted Wills can use allowances, reliefs and trusts to minimise inheritance tax. Gifts to a spouse or civil partner are generally exempt, and charitable legacies can reduce the overall rate.
What if executors or beneficiaries die or change address?
If an executor or beneficiary dies before the testator, the Will remains valid. Substitute executors can be appointed to accommodate for this. A change of address does not affect validity if the person can still be identified.