Making a will is one of the most important steps you can take to protect the people and causes you care about. Yet many people put it off, often because they are unsure what a will actually covers or how it can help them.
A well drafted will not only decides who receives your money, property, and possessions (your estate), but can also protect vulnerable loved ones, reduce unnecessary tax, and give you peace of mind that your wishes will be respected.
This blog breaks down, in clear and practical terms, what your will can cover and protect, and why it is worth taking the time to get it right.
Why making a will matters
Your will is a legal document that allows you to set out exactly what should happen to your belongings after your death. Without a will, a set of default legal rules will decide what happens to your estate, and its decisions may not reflect your wishes. These rules (called the intestacy rules) don’t consider personal relationships, stepchildren, long term partners, or informal agreements. For many families, this can lead to stress, delays, and preventable disputes.
A will allows you to retain control. It ensures your wishes are followed, protects the people who depend on you, and helps prevent loved ones from facing uncertainty at a difficult time.
What your will can cover
A properly drafted will deals with far more than simply ‘who gets what’. It provides instructions, contingencies, and protections that make life easier for those you leave behind. Below are the key areas your will can cover.
Choosing who should benefit from your estate
One of the primary functions of a will is naming the people or organisations you want to receive your estate. You can choose as many or as few recipients as you wish. Your will also allows you to decide what should happen if one of your recipients dies before you, to ensure every eventuality is covered.
Choosing guardians for children under 18
If you have children in your care who are under the age of 18, your will is an opportunity to specify who should look after them if you die. This is an important decision, as without clear instructions, this decision may be left to the courts. Some people also choose to write guidance to their guardians, explaining their hopes for their child’s upbringing.
Appointing executors to carry out your wishes
Your will must name at least one executor; this is the person responsible for administering your estate. Executors deal with paperwork, apply for probate, settle debts, and ensure assets are distributed correctly. Again, you can choose the person you think is best suited to this position. This could be someone who knows you well, or a professional advisor, such as a solicitor.
Protecting loved ones with trusts
Your will can also include trust provisions. Trusts can be tailored to your family circumstances, offering flexibility and security. These are particularly useful if:
- You want to leave gifts to children that they should only receive once they reach a certain age
- You wish someone to benefit from your property during their lifetime but ultimately pass it to someone else
- You want someone to benefit from your estate but they have difficulty managing money, have a disability or are otherwise vulnerable
Reducing inheritance tax where possible
While a will cannot eliminate inheritance tax, it can help minimise unnecessary tax by:
- Making tax efficient gifts
- Using allowances between spouses and civil partners
- Keeping assets out of the wrong estate
- Making the most out of available inheritance tax reliefs
- Structuring gifts to charity
- Using trusts where appropriate
Many people don’t realise that tax planning can happen within the drafting of a will. Good advice at this stage can allow those you want to benefit from your estate to receive as much as possible.
Setting out your funeral wishes
Although not legally binding, your will is a suitable place to express your funeral wishes. Including your wishes can relieve family members from having to make these decisions when they are grieving, reducing stress and avoiding family disagreements.
Using general gift categories
Your will doesn’t need to list every item you own. In fact, most people use general categories such as:
- “All my personal belongings”
- “My jewellery”
- “The contents of my home”
This avoids the need to update your will every time you buy something new.
You may wish to prepare a Letter of Wishes to accompany your will to give guidance to your executors as to what personal items (often referred to as ‘chattels’) should go to whom. This is particularly helpful when you have frequently changing belongings, such as collections, or when you have personal possessions which hold sentimental value.
The Letter of Wishes can be updated as many times as you like, can be made private and is a practical way to ensure your personal belongings end up with the people you intended.
What a will can’t cover
Understanding what a will can’t deal with is just as important. Certain assets cannot be gifted through your will.
|
Type of asset |
Why it cannot be covered |
|
Jointly owned property held as joint tenants |
It automatically passes to the surviving owner. |
|
Assets you don’t own outright (ie, a leased car) |
You don’t legally own the asset and so you cannot give it away. |
|
Most pensions and life insurance policies |
Most pensions and many life insurance policies are paid according to nomination forms or trust arrangements, so the beneficiaries usually cannot be changed by a will. |
|
Certain business interests |
In some cases, the business documents (eg shareholder agreements, partnership agreements or articles of association) determine who can inherit shares or business interests or require interests to be transferred to surviving partners. These documents can override a will. |
|
Assets you don’t yet own |
A will can only gift property you own at the date of your death. This means you cannot gift assets, for example, subject to a binding sale contract or property that forms part of another person’s estate that you expect to inherit. |
|
Property in another country (depending on the jurisdiction) |
Some countries have forced heirship rules or rules that can override a UK will and you may need a local will to dispose of foreign assets. |
|
Digital licences, eg app purchases, streaming subscriptions, e-books |
These are generally licensed, not owned and so usually end on death and cannot be given away by will. Note this is different from some digital assets which can be gifted if they are owned property (not licences) for example cryptocurrency, domain names and monetised online accounts. |
|
Gifts to pets |
Pets can’t legally own property. |
If you're unsure how an asset is owned, you can get in touch and our solicitors can help check the legal position.
When you may need legal advice
Some situations make it especially important to get professional support when preparing a will. You should consider seeking advice if:
- You share a property with someone who isn’t your spouse or civil partner
- You wish to provide for a dependent who can’t manage their own affairs
- You have a blended family, such as a second spouse or children from different relationships
- You have a business or partnership assets
- You own property overseas
- Your permanent home is outside the UK
Keeping your will safe and updating it when life changes
Once your will is made, keep it safe and let your executors know where it is stored. Don’t keep it in a locked place they can’t access.
You should also review your will whenever major life events occur, such as:
- Marriage or civil partnership
- Divorce or separation
- Birth of children or grandchildren
- Moving home
- Receiving an inheritance
- Buying or selling a business
You can amend your will as many times as needed, ensuring it continues to reflect your wishes and circumstances.
Why a will matters even if you think you own very little
Many people believe they ‘don’t need a will’ because they feel their finances are simple or modest. In reality, almost everyone can benefit from having one as a will:
- Prevents family disputes
- Protects vulnerable dependants
- Ensures sentimental items go to the right people
- Allows you to support charities or causes you care about
- Helps ensure your estate is handled efficiently
Summary
Understanding what your will can cover and protect is the first step towards safeguarding your loved ones and ensuring your wishes are respected. A well prepared will gives you control, supports good tax planning, and provides invaluable guidance for those you leave behind.
If you’d like help drafting or updating your will, our team is here to support you.
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Every piece of content we create is correct on the date it’s published but please don’t rely on it as legal advice. If you’d like to speak to us about your own legal requirements, please contact one of our expert lawyers.