We use cookies to allow us and selected partners to improve your experience and our advertising. By continuing to browse you consent to our use of cookies. You can understand more and change your cookies preferences here.
When you click on a retailer link on our site, we may earn affiliate commission to help fund our not-for-profit mission.Find out more.
New research has found that 54% of UK adults don't have a will, and 5.4 million people have no idea how to make one.
The research, from insurance company Royal London, also states that nearly 60% of parents don't have a valid will - meaning they either don't have one at all, or the will they do have is out of date.
A will is the only legal way to specify what you want to happen to your child if you die before they're 18.
Here, we answer all the questions you might have about writing a will, and the consequences that can arise from not having one.
Wills aren't just for elderly people, sick people or parents - they're important for many adults, as unfortunately you never know when the worst could happen.
There are many reasons why you should get a will, including:
Find out more:will-writing for new parents
If you'd rather not seek out professional help it's possible to write a will yourself, especially if your finances aren't complicated. However, you will need to make sure that you have an original version of your will that's free of errors and changes, and have it signed by witnesses, in order to make it legally binding.
In England, Wales and Northern Ireland you'll need two witnesses over the age of 18. In Scotland, you'll need one witness who's over 16.
Find out more:how to make a will
This is the most expensive option, but a solicitor will be able to make sure the document is legally binding and correct - which could save your family an inheritance tax bill if you have a large estate.
Plus, if your financial situation is complicated - for example, you have overseas property, children from a previous marriage or you own a business that will need to be sold off - a solicitor is probably worth considering.
The cost will vary, but expect to pay a few hundred pounds for a solicitor to write your will.
Will-writing services such as Which? Wills tend to be cheaper than using a solicitor, but give you much more guidance than if you were to write a will yourself. It's another good option if your circumstances are relatively simple.
There are a few things to bear in mind before choosing a will-writing service:
Find out more:how Which? Wills works
Many banks offer cheap or free will-writing services, but they can come with hidden fees.
Watch out for clauses that charge fees to administer your estate, or those that charge a percentage of your estate for their services.
Before writing your will, you should consider the following:
Find out more:what to put in your will
The Royal London research found that a third of respondents had experienced a life event, such as getting married or having a child, since they made their will. But more than half of those people hadn't updated their will to reflect this.
If you get married, any previous will you've made will be automatically invalidated, so it's important to keep it up to date if you want your wishes to be carried out.
If you die without a will, your estate (your money, possessions and investments) will be divided according to intestacy rules.
The process can be very complicated, and varies depending on whether you're married or in a civil partnership, and whether you have children.
You won't be able to make sure that your estate is divided in any way that differs from the intestacy rules unless you have a will.
Find out more:intestacy: dying without a will