A Will is a document that records what you intend to happen to your assets after you die . In other words “who gets what”. Wills also nominate a person or persons that you trust to see that your wishes are carried out. This person is referred to as the executor.
Many complications can arise after your death, if you do not have a will. For example, you will not have any control over who your assets are left to. The cost of arranging for your assets to be distributed is usually higher than would be the case if you had a will, and this cost is paid for out of the assets of your estate. There is also inconvenience caused to your loved ones in arranging for this process to take place and because your intentions are not documented, disputes and conflict can arise between loved ones, as to what your intentions were.
Therefore, wills are essential for most adults. It is also very important that you view your existing wills regularly to see if they need to be changed because of a change in personal circumstances.
For example if you buy or sell a property you may need to review your will.