If you have young children, who would care for them if you were to die? 

In the absence of Will, nobody is automatically appointed as the legal guardians of a child whose parents have died. With emotions running high, this can lead to disputes between relatives on both sides of the family, all of whom believe they should be the guardians. If you haven’t made this decision during your lifetime, by making a Will, it would be down to the Courts to decide.

If you are married, does this mean you don't need to make a Will?

One of the most common misconceptions about Wills in this country is that everything you own passes to your husband or wife if you die; and this is not necessarily the case. 

If you have children, only assets up to the value of £250,000, plus your personal possessions, would pass to your spouse. Half of the rest of the estate would be split equally between your children (once they have reached the age of 18) and the other half would be held in what is known as an “interest in possession” trust. This means that your spouse would receive the income or interest generated by the assets in the trust, but the capital value would be tied up until your spouse died (when it would pass to the children). If you do not want your Estate tied up like this, possibly for many years, then you need to exercise your right to make a Will.

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