What is a Will?
A Will is a legal document in which a person states what they would like to happen to their money and possessions after their death. A Will normally covers bank accounts, investments, your home and your personal possessions, as well as making your funeral wishes known. A Will makes sorting out your affairs easier and clearer for your family. It allows you flexibility in deciding who will look after your children in the event of your death and who would manage the Estate on their behalf until they reach the age of financial independence.

A Will can also offer some protection against the risk of your children being disinherited after your death in the event of your spouse remarrying. It also means you are the one making choices about who you leave money, property and other possessions to, instead of leaving it to the State to decide. If you don’t have a Will, your Estate will fall under the rules of Intestacy. This means that you risk losing control of where your hard earned monies will go after your demise, and it is possible that part of your Estate will go to the state.
The above information has been taken from AdviserWill.com website