This informal CPD article, ‘Writing Your Will: How to Protect Your Loved Ones and Your Legacy’, was provided by AAG Financial Education (AAG). Founded in 1995, they provide long-term, comprehensive, and bespoke financial education to their clients.
Making a Will is one of the most important steps you can take to ensure your money, property, and possessions go to the people or causes you care about. Yet, despite this, many people delay it – often because it involves decisions we’d rather not face.
But not having a Will can lead to confusion, delays, and outcomes you didn’t intend.
What Happens If You Don’t Make a Will?
If you die without a Will, the law decides who inherits your estate. This is known as dying intestate. Many assume their partner will automatically inherit everything, but that’s not always the case, especially if you’re unmarried or have children from a previous relationship.
Even when a partner does inherit, children may not receive anything if the estate is below certain thresholds. It can also create legal delays and stress for loved ones at an already difficult time.
A Will allows you to:
- Name who should receive what
- Appoint guardians for children
- Choose your executors
- Support causes you care about
- Reduce the risk of disputes
It’s your opportunity to take control, express your wishes clearly, and avoid future uncertainty.
Unsure Who to Include? You’re Not Alone
It’s common to feel unsure about who to name in your Will. But remember, your Will isn’t fixed; you can change it as your life and relationships evolve.
Modern family structures often go beyond traditional definitions. You may want to leave gifts to friends, stepchildren, or carers. The important thing is to start somewhere and adjust as needed.
What If Your Beneficiaries Are Young?
If you’re leaving money to children or grandchildren, you can set up a trust in your Will. This lets you decide when and how funds are released, such as at age 21 or 25, and appoint trustees to manage the money until then.
You can also write a letter of wishes to guide your trustees on how you'd like the money used, for example for education or living costs. While not legally binding, it helps ensure your intentions are understood.
What If You Don’t Have Close Family?
If you don’t have children or close relatives, you can still make a Will. In fact, it’s even more important. Without one, your estate might go to someone you didn’t intend or even to the state.
Instead, you could leave your estate to friends, charities, or causes close to your heart. Gifts to charities are free from Inheritance Tax, and if you leave 10% or more of your estate to charity, the tax rate on the rest may reduce from 40% to 36% (Gov.uk, 2025).
It’s good practice to review your Will every 10 years – or sooner if your family circumstances change. This could include a marriage, divorce, new grandchildren, or a significant inheritance. Making sure your loved ones get the right support, at the right time, can open up opportunities and make a meaningful difference long after you’re gone.
Making a Will is a simple but powerful step. It protects your loved ones, honours your wishes, and helps you leave a legacy that truly reflects your values.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are dependent on individual circumstances.
We hope this article was helpful. For more information from AAG Financial Education (AAG), please visit their CPD Member Directory page. Alternatively, you can go to the CPD Industry Hubs for more articles, courses and events relevant to your Continuing Professional Development requirements.
Reference:
Gov.uk (2025) – https://www.gov.uk/donating-to-charity/leaving-gifts-to-charity-in-your-will
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