Do I Need a Will If I Don’t Own Much?

We regularly advise clients on making and updating Wills, from straightforward estates to more complex family and financial arrangements.

Many people assume that Wills are only necessary for those with significant wealth or substantial property. In reality, that is not always the case. Even where an estate is relatively modest, having a properly prepared Will can still be an important legal step.

A Will is not simply about the size of your estate. It allows you to decide who should inherit your money, property and possessions, who should deal with your affairs after your death, and whether there are any other wishes you want formally recorded.

Without a valid Will, the rules of intestacy determine who inherits your estate. Those rules follow a fixed legal order and may not produce the outcome you would have chosen yourself.

Even modest estates can include savings, personal possessions, vehicles, insurance proceeds or an interest in property. The important question is not simply how much you own, but whether you want to decide what happens to those assets yourself.

A Will also allows you to appoint executors to deal with your estate after your death. Executors are responsible for administering the estate and carrying out the terms of the Will.

For many people, the real issue is whether they would prefer the law to determine what happens after their death, or whether they would rather make those decisions themselves.

At MJV Solicitors, we help clients put clear, legally valid Wills in place that reflect their wishes and circumstances.

For more information about making or updating a Will, read our complete guide to Wills and Estate Planning.