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Only 1 in 3 people make a will.

Will making is still yet to become the norm for people today, even less so leaving money to charities. This is because people fail to realise how much they are actually worth or assume that their money will automatically go to their Spouse. If you do not specify whom you want your assets to be left to it can make your Spouse a victim of intestacy.

A will gives you the chance to say who you would like to receive your Estate, that is your money, property and other possessions when you die and thereby to provide for your spouse, partner, dependants, family or for your chosen charity You may make arrangements for the guardianship of any dependant children and so ensure that they are cared for as you would have wished. Many people also use their will to give specific instructions for their burial, cremation or possibly for the donation of organs for medical research.

What happens to my Estate if I don't make a will?

If you die without making a will you are declared "intestate" and your assets will be divided by the State according to the law. This will mean that someone else will decide who will receive your possessions. They will obviously not be able to take into account your own personal preferences. Unmarried partners are not automatically recognised as having a claim to your Estate. Instead, your property may be passed to relatives who you may not otherwise have chosen to benefit. Alternatively, if you are single and do not have any relatives, your money and property could be passed on to the Crown. So only by making a will can you ensure that your hard earned money or possessions will go to the people or organisations you would want to support.

Won't my Spouse inherit automatically?

This may be the case - if your estate is small. However, if you leave an Estate of more than £255,000 (as at 6th April 2003) any children, parents, brothers or sisters may also have a claim - at the expense of your spouse.

Is it still worth making a will if I own very little?

Definitely. If you don't have much to leave, it's all the more important to make sure that it does not get split up. If you own your own home you may be wealthier than you think! You obviously need to consider who you want to inherit it when you die. Besides, a will need not just provide for legacies of money or property. You may wish to leave particular items such as a piece of jewellery or furniture to a relative or friend.

What about tax?

All gifts in your will to a surviving spouse or charity are exempt from inheritance tax. This of course includes The Scout Association and Scout Groups, all of which have charitable status. Inheritance tax is payable on the net value of your Estate, after all your debts have been paid and the above legacies deducted. The starting amount on which tax is levied on your net Estate, and the percentage of tax payable are reviewed regularly, usually in the Budget.

When should I make a will?

The answer to this is most definitely now. Everyone should make a will as soon as possible regardless of whether they are married of the size of their Estate.