Why everyone needs a will

One of the most persistent myths about will writing is that it's only necessary for older people or those with significant wealth. This couldn't be further from the truth. The reality is that most people have more assets than they realise. Even a young person with a modest flat, a car, some savings and a life insurance policy could leave behind an estate worth tens of thousands of pounds. 

Without a will, that estate becomes subject to Scotland's intestacy laws, which may not distribute assets in the way the deceased would have wanted.

The law of intestacy dates back to the 1964 Succession Scotland Act and can create unexpected complications. For instance, many people assume that if they're married, their spouse will automatically inherit everything. This is not the case. Under intestacy rules, a surviving spouse receives a fixed sum and may have to share the remaining estate with children or even the deceased's parents. These unintended consequences can cause significant distress and conflict within families at an already difficult time.

When to make a will

In Scotland, anyone aged 16 or over can legally make a will. Rather than waiting until later in life, it's sensible to create a will as soon as you start accumulating any assets, whether that's your first job with a life insurance policy, purchasing a car, or buying property. 

The beauty of making a will early is that it remains valid and can adapt to your changing circumstances over decades. You might have modest savings today, but in 40 years you could own a business, have inherited money from relatives, or accumulated substantial investments.

This is particularly crucial for unmarried couples. If you live with a partner but haven't formalised the relationship, they have no automatic legal rights to your estate. Similarly, separated but not divorced spouses can create legal complications, as they technically remain married and may still have claims on the estate.

What goes into a will

At its most basic, a will is a formal legal document stating what you want to happen to your estate after death. A properly drafted will typically contain three main components. First, it appoints executors, who act as managers of the estate, handling all the legal and administrative work required to wind up your affairs and distribute assets. Executors can be family members, friends, or professionals such as solicitors or accountants.

Second, the will should detail any specific bequests. These are particular gifts to individuals or organisations, such as leaving jewellery to offspring, money to a charity, or even specialist items like collections to relevant clubs or organisations. If you want a specific person or charity to benefit from your estate, they must be explicitly named in the will.

Third, the will addresses the residue, which is everything left after debts are paid and specific bequests fulfilled. This typically forms the bulk of the estate and might be left entirely to a spouse, divided among children, or distributed according to more complex arrangements for blended families.

The will should also be signed to make it legally valid, and while not strictly required, having it witnessed provides additional protection against future challenges.

The importance of professional advice

Although it's legally possible to write your own will using online templates or will-writing packs, this approach carries significant risks. A will that isn't properly executed may be deemed invalid, creating exactly the problems it was meant to prevent. Technical defects, missing signatures, or unclear wording can render a will unusable.

Many solicitors offer an initial free consultation, providing an excellent opportunity to discuss your situation without commitment. The cost of having a solicitor draft a will typically ranges from £200 to £300 plus VAT, a modest investment that can save your estate considerably more in legal fees and complications after your death. 

Taking the first step

The process of drafting a will needn't be daunting. Start by writing down what you think should be included, even if you're unfamiliar with legal terminology, prepare your questions in advance, and book a consultation when your mind is clear and you're not under pressure.

Ultimately, making a will is about accepting an uncomfortable truth: we all face mortality, and none of us knows when our time will come. By taking this practical step, you provide your loved ones with clarity, reduce potential conflicts, and ensure your wishes are honoured. The sense of relief reported by almost everyone who completes this process makes it well worth adding to your to-do list today.

If you’d like to know more about the process of drafting a will, listen to our podcast on this topic here.