Why Writing a Will Matters More Than You Think

It is easy to put off writing a will. Many people believe it is only necessary later in life or assume that their family will “sort things out.” Unfortunately, the reality is very different. Without a valid will, loved ones may face legal uncertainty, unexpected tax bills, and even family disputes. Whether you live in the Cotswolds, Bristol, or London, preparing a will is one of the most important steps you can take to protect your family and your legacy.

The Risks of Dying Without a Will

When someone dies without a will in England or Wales, their estate is divided according to "the rules of intestacy". These rules are rigid and often do not reflect the way people actually live their lives. For instance, if you live with a long-term partner but are not married or in a civil partnership, that partner has no automatic entitlement to your estate. Stepchildren also inherit nothing unless you specifically include them in your will. Even close friends or charities you support will be left out.

*Under intestacy rules, the order of entitlement prioritises spouses, civil partners, and biological children. Cohabiting partners, stepchildren, and friends are excluded. This can cause hardship and, in many cases, disputes that might otherwise have been avoided.

Case Example

Consider a Bristol client who died unexpectedly without a will. He lived with his partner for 15 years and helped raise her children, but because they were not married, she had no automatic right to inherit. The estate went instead to estranged family members. A clear will could have avoided years of stress and litigation.

Control and Clarity

A will is your opportunity to decide what happens after you are gone. It ensures that your money, property, and possessions are distributed according to your wishes, not left to chance.

A will allows you to:

• Choose who inherits property, savings, and personal belongings

• Appoint guardians for children under 18

• Provide for unmarried partners or blended families

• Make gifts to charities or community organisations

• Plan for pets, ensuring they are cared for by someone you trust

A Common Misconception

Many people believe that making a will is only for the wealthy. In truth, even modest estates can create significant challenges if no instructions exist. From small savings accounts to treasured family heirlooms, a will ensures these assets are passed on smoothly and respectfully.

Inheritance Tax Planning

One of the most overlooked benefits of a will is tax planning. In the UK, inheritance tax (IHT) is charged at 40% on estates above £325,000, although allowances and exemptions apply. Proper planning can significantly reduce the amount your loved ones must pay.

For example:

• Nil-rate band: Everyone has a tax-free allowance of £325,000.

• Residence nil-rate band: If you pass your home to direct descendants, an additional allowance may apply.

• Spousal exemption: Anything left to a spouse or civil partner is usually exempt from IHT.

• Charitable gifts: Leaving 10% or more of your estate to charity can reduce the overall IHT rate to 36%.

• Trusts: Strategic use of trusts can protect assets for children or vulnerable beneficiaries

CHECKLIST:

• Assess the value of your estate against current tax thresholds

• Consider the transferable allowance between spouses

• Explore charitable gifts to reduce the tax burden

• Review your will regularly as tax laws and allowances change

Avoiding Family Disputes

Disputes over inheritance are increasingly common. According to Ministry of Justice figures, claims under the Inheritance (Provision for Family and Dependants) Act 1975 have risen steadily over the last decade.A properly drafted will, prepared with professional advice, helps prevent disputes by:

• Stating your wishes clearly

• Demonstrating that you had capacity and understood the implications

• Including provisions for dependants who might otherwise be excluded

• Setting out reasons for unusual decisions (for example, unequal gifts to children)

Scenario

A London family faced conflict when one sibling believed they had been unfairly excluded from a parent’s estate. The dispute escalated into court proceedings, consuming both time and money. Had the parent included an explanatory letter alongside the will, the risk of challenge might have been greatly reduced.

Practical Life Planning

Making a will is not only about distributing assets — it is about planning for life’s uncertainties. Many clients choose to address connected issues at the same time, such as:

• Powers of attorney: Appointing someone to make financial or medical decisions if you lose capacity

• Business succession planning: Ensuring family businesses or farms can continue smoothly

• Funeral wishes: Giving loved ones guidance at a difficult time

• Digital assets: Managing online accounts, photographs, and intellectual property

The Peace of Mind Factor

Writing a will often brings immediate relief. Clients frequently describe feeling lighter once the document is signed — they no longer carry the nagging worry that their family might be left with confusion or conflict.For parents of young children, the ability to appoint guardians is especially powerful. For older clients, clarity about inheritance tax can provide peace of mind that they are leaving as much as possible to loved ones.

How Often Should You Update a Will?

A will is not something to write once and forget. Circumstances change, and so should your will. You should review your will:• Every five years, as a general check• After major life events — marriage, divorce, birth of a child, or purchase of property• If tax laws change significantly• If executors or guardians named in your will are no longer suitableFailing to update a will can sometimes cause as many problems as not having one at all.

Glossary

• Estate – Everything you own at the time of your death, including property, savings, and possessions

• Executor – A person named in your will who is responsible for administering your estate

• Intestacy – The situation where someone dies without a valid will

• Nil-rate band – The portion of your estate that is exempt from inheritance tax

• Probate – The legal process of proving a will and distributing an estate

• Testator – The person who makes a will

• Trust – A legal arrangement allowing assets to be managed for the benefit of others

If you would like expert advice on preparing or updating your will, contact Eddison Cogan Lawyers. Our solicitors advise clients across the Cotswolds, Bristol, and London. We provide clear, practical guidance tailored to your family, your assets, and your future.