Your Will lets you decide what happens to your money, property, and possessions after you die. Importantly your Will is essential to ensure that your beneficiaries do not pay more Inheritance Tax than is necessary and that the people you wish to benefit are the correct people and/or organisations.

A properly drawn Will can be used to create trusts, either for beneficiaries who are unable to manage their assets themselves if they are potentially vulnerable, or to ensure that your beneficiaries do not lose out if they should be facing bankruptcy, divorce, or a life changing illness.

Your Will can also contain directions as to who should look after children under 18, how your children are brought up and even the type of education that your children receive.

Your Will should state who will be your Executors and Trustees (the people responsible for carrying out your wishes and ensuring that the terms of your Will are followed correctly – this can be the beneficiaries).

It is always good practice to have substitute beneficiaries, in case those that are provided for initially have died before you. If provision is not made in your Will, then a partial intestacy can occur. An intestacy is when the law provides strict rules on who will benefit from your estate, rather than the people that you wish to inherit. The substitute beneficiaries could be a charity or similar organisation of your choosing – there are often advantages of leaving part of your estate to charity for Inheritance Tax purposes.

It is essential that appropriate legal advice is obtained in the following situations:

· If you share a property with someone, especially if that person is not your spouse or civil partner, or you wish to safeguard part of the house to avoid care home charges.

· You want to leave money or property to a dependant who cannot care for themselves

· You have family members who you do not wish to benefit and who may make a claim on your Will, such as spouses that you are separated from, your own children or you do not wish them to benefit or children from another marriage

· Your permanent home is outside the UK

· You have property overseas

· You have a business or agricultural land

· You have minor children

· Your estate may be subject to Inheritance Tax

Unmarried partners aren't entitled to anything from your estate unless specifically stated in your Will - no matter how long you've been together. Writing a Will ensures your partner will receive their fair share of your estate.

For your Will to be valid, it has to be in a prescribed form, signed and witnessed correctly.