A Will is a means by which a person may set out their wishes in respect of their estate in the event of their death. It might detail the deceased’s wishes for funeral arrangements and go into as much or as little detail as required, perhaps even detailing music and a venue for the wake!
However, the main reason for a Will is to set out how one’s estate is to be handled and eventually distributed. It is normal to appoint an executor to the estate who has authority to act in accordance with the terms of the will. This might be a family member or a professional person, such as a solicitor. If the latter, fees will be payable.
Of course, if there is no will, how your estate is distributed is dependent upon law and in general terms, in England and Wales, if you are married, your spouse will inherit the first £250,000 after tax with the remainder split between the spouse and any children. If unmarried then your partner gets nothing and it all passes to your blood relatives. If you have children, a Will is the only way to appoint guardians of your choice. Otherwise, the State will decide. This might result in your children being wards of the State. Furthermore, if you remarry, any former spouse or blood relatives will lose any claim they may have had under a former Will.
Clearly, therefore, not having an up-to-date will is a bad idea.
To speak to our Wills and Estate Planning team contact us on 01628 507477.
Download our Free First Time Buyers Guide
Recent posts
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
When will mortgage rates fall further?
9 days ago
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
Lloyds boost lending for first-time buyers
16 days ago
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more.
The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.
Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.
Nationwide ease criteria for first-time buyers
19 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.
Ways to save money over the summer holiday
25 days ago
Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break
The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.
More information
Trusted by
