The One Conversation No One Wants to Have: Why You Need a Will

Today, I want to switch things up. I’ve been talking a lot about investing—planning for your future, securing your children’s financial future, and building wealth—but today, I want to focus on something equally important: writing a will.

This topic became very real for me during the COVID-19 pandemic. Like many people, I was confronted with the thought:

• What will happen to my children if I’m no longer here?
• Who will care for them?
• Will my assets go to the right people?

It wasn’t a comfortable thing to think about, but honestly, writing a will was one of the best financial decisions I made. It gave me peace of mind knowing my family would be protected, and I believe it’s something every parent should do.

Why Every Parent Needs a Will

Many people put off writing a will, thinking it's only for the wealthy or elderly. But if you have children or own anything of value, a will is essential.

Here’s why:

✅ 1. Appoint a Guardian for Your Children

If you have young children, a will allows you to legally name a guardian who will care for them if something happens to you. Without a will, the courts may decide who raises them, and that may not align with your wishes.

✅ 2. Control Who Inherits Your Assets

A will lets you decide who receives your savings, property, and investments—whether that’s family, close friends, or charities.

✅ 3. Prevent Family Disputes & Legal Issues

Without a clear will, inheritance disputes can arise, creating unnecessary stress for your loved ones. A legally binding will eliminates confusion and ensures your estate is distributed according to your wishes.

✅ 4. Manage Your Children’s Finances & Trusts

A will allows you to:

• Appoint trustees to manage your children’s inheritance until they’re old enough.
• Decide when they inherit—you might prefer they receive funds at 21 or 25 instead of 18.
• Set up trust payouts to protect their financial future and prevent reckless spending.

✅ 5. Minimise Inheritance Tax

Strategic estate planning can help reduce inheritance tax liabilities, ensuring more of your assets go to your loved ones instead of taxes.

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How to Write a Will in the UK

When my husband and I decided to write our wills, we initially considered doing it ourselves, but after researching, we chose to work with a lawyer. DIY wills can sometimes miss important details, causing legal complications later.

Here are three main ways to create a will in the UK:

1. Use a Lawyer or Solicitor

• This ensures your will is legally binding and error-free.
• Make sure they are registered with the Solicitors Regulation Authority (SRA).

2. Free Will-Writing Services – Take Advantage of Free Wills Month

If hiring a solicitor feels expensive, you can take advantage of Free Wills Month—a time when solicitors across the UK offer free will-writing services in March and October. You can use this service to write or update your will.

Here are some organisations offering free will-writing services:

• NSPCC – Free will writing for people over 55.
• Age UK – Limited free will-writing appointments, allocated on a first-come, first-served basis.
• Macmillan Cancer Support – Free will-writing services for people over 18 living in England, Scotland, Wales, or Northern Ireland.
• Guide Dogs – Free will writing for people aged 55 and over.
• RNLI (Royal National Lifeboat Institution) – Free will-writing services.
• The Salvation Army – Free will-writing services.

3. Bank Will-Writing Services

• Some banks offer estate planning and will-writing services for their customers.
• Check with your bank to see if they provide this service.

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But Remember! A Will is Not ‘One and Done’

Once written remember a will isn’t something you write once and forget about. You should review it often, I'd say update your will:
✔️ Every 5 years or,
✔️ After major life events (marriage, children, buying a home, inheriting assets). By keeping it updated, you ensure your wishes remain clear and legally valid.

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Final Thoughts on Protecting Your Family’s Future

For me, ensuring that my will is in place is part of responsible financial planning. It’s not just about money—it’s about making sure my children are cared for and that everything I’ve worked for goes to the right people.

I know thinking about this can be uncomfortable, but having a plan in place ensures your loved ones won’t have to deal with unnecessary legal or financial stress during an already difficult time. Take a moment to consider it, and with Free Wills Month coming up in March, it could be the perfect time to reach out to a lawyer and get started.