What Exactly is a Will?

A Will is a legal document in which you can specify what should happen to everything from your property to your money, when you die. If you have any dependent children, a Will also enables you to detail your wishes for their future, if you die when they are still under 18 years old.

In a Will, it is also possible to specify everything from who will look after your pet/s, to the type of funeral you would like to have.

As well as leaving assets to family and friends, it may also be possible to leave money to charities.   Those who are named in your Will as receivers of part of your estate are known as “Beneficiaries”.

When you leave someone an amount of money or an item of property in your Will, this is known as a “Legacy”.

In a Will, you can appoint:

• Guardians – these are the people you would like to look after your children, should you die before they reach adulthood
• Executors – choose people who you can trust to carry out your wishes, as specified in your Will

If you die without a Will in England and Wales (dying “intestate”), it is the law which will ultimately decide what happens to your estate.

By making a Will, you can specify the people (or charities) you would like to benefit from your estate and ensure that your family are provided for upon your death.