The benefit of making a Will A Will is a legal document that allows you to determine who will benefit from your property and possessions when you are gone. · Certainty that your property and assets and business interests will be received by the people you have chosen · You can name Executors who will manage the administration of your estate and carry out your instructions. · You can name Guardians to look after any children you have · Peace of mind that you have reduced the burden and stress on your loved ones after you are gone. · A Will can help you protect the value of your property or savings for future generations by minimising the effect of Inheritance Tax or residential care fees upon the value of your estate. But without a Will: · Your unmarried partner will not benefit from your property or possessions at all · Your spouse or civil partner may not inherit all of your property and possessions · The family home may have to be sold to distribute your estate according to the law · Your estate could end up going to those you did not wish to benefit · The Court will appoint Guardians for your children under 18 – they may not be people you would have chosen · Children from a previous marriage may not receive anything at all · You have no control over who administers your estate · The administration of your estate can become more complicated · Your funeral arrangements may not be as you would have wished When there is no Will, strict inheritance laws called the Rules of Intestacy apply. These rules dictate who can administer your estate and who can benefit. A will is just the first part of a basic estate preservation plan.