What is a will?

A Will is a legal document in which you state what you would like to happen to your estate. Your estate consists of your house (less any outstanding mortgage or other loans secured on it), cash and savings, your car, household and personal effects, proceeds from any life assurance policies and pensions where there isn't a named beneficiary or the plans are not written in trust LESS any outstanding loans, credit card balances, household bills, funeral expenses, etc.

If the gross value of the estate is less than £5,000 (England, Wales & Northern Ireland) it is called a "small estate" and can be distributed without a Grant of Probate or Confirmation of the Estate.

However, it doesn't matter how little you think you are worth, it is important that you make a Will. Without a Will your relatives and friends could face severe difficulties and your estate will be distributed according to the Rules of Intestacy, which is unlikely to be how you would wish it to be distributed. You must sign and date your will in the presence of two witnesses (England, Wales & Northern Ireland) or one witness (Scotland).

You must appoint an executor in your Will.