Your money could be locked away for months or years

Splitting up someone's estate when they die without a will can sometimes be a lengthy and costly process. Your assets could be out of reach to your nearest and dearest for a long time, especially if there are disagreements, and finding a solution may cost thousands of pounds in lawyers' fees.

By making a will your wishes will be clearly spelt out and should ensure your estate is quickly and inexpensively divided up after your death.

Your children's future shouldn't be left to chance

Should the unthinkable happen and your child or children are orphaned, making a will can stop their upbringing being left to chance.

It can give you peace of mind that they will be financially taken care of and that a person of your choosing will look after them - become their new parent or legal guardian - in accordance with the Law.

You may lose out if you are unmarried

If you are unmarried or not in a civil partnership it is even more important to make a will. In Britain, a common law partner does not automatically inherit the home or money of their other half when they die.

Common law partners sometimes have to go to court to secure their inheritance and in extreme cases are forced to sue their own children, who are considered immediate next of kin, to get what is rightfully theirs.

If there is an argument over your partner's estate, income you have been accustomed to could also suddenly be frozen or stop and cause you financial hardship in everyday life.

You may end up handing over your hard-earned assets to the taxman

Anyone who dies without a will always pays more in Inheritance Tax to the Government.

If you have no close relatives your assets will also go straight to the State.

So, if you want your relatives to avoid paying too much to the taxman, or for a close friend or charity to benefit when you pass away, your wishes must be set out in a will.