BARCLAYS WEALTH ESTATES & TRUSTS

Why should you make a will?
A will is the only way to ensure your wishes are carried out and your estate passes on to
future generations in the way that you intend.
Making a will and ensuring that it is kept up-to-date is an
essential part of estate planning. Most of us would not want
to leave things to chance with our own financial situation.
That is why many of us save for the future, make provision
for our pensions and insure ourselves, our houses and our
possessions. As well as planning for the future, by making a
will you can also plan for the future of those that you care
most about.
What if I do not have a will?
A will enables you to decide who should receive what from
your estate rather than leaving it to chance that your estate
will pass as you would wish.
If you pass away without a will, your estate passes under
the laws of intestacy. This can have surprising results.
For example, if you are married or in a civil partnership your
spouse may not receive all of your assets. Alternatively,
if you live with someone but are not married or in a civil
partnership with them, they will receive nothing automatically.
Please note: Throughout this brochure we make references
to ‘spouse’. In this context it includes husband, wife or
civil partner.
How can I provide for my children?
If you have children who are minors, it is important to
appoint guardians to look after them should anything
happen to you.
You may be concerned about protecting your assets should
your spouse remarry after your death or if you have children
from a previous relationship. One way to do this is to give
your spouse a life interest in your estate. This means that
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your spouse will be able to receive the income only from
your estate (including the right to live in the family home),
and on their death, capital will be paid to other beneficiaries,
usually your children.
However, in many cases, an absolute gift to your spouse is
appropriate if you are confident your spouse will provide for
your children.
If you would like further information about how this can be
incorporated in your will, please call the Barclays Will Writing
helpline on 08457 585 443*.
How will my estate be administered?
In your will you need to appoint an executor who will have
responsibility for administering your estate and carrying out
your wishes. This is an important responsibility. It can be a
complicated and time-consuming role, and will invariably
require specialist knowledge and skills. Barclays can assist
you by acting as your executor. You will find further details
of the service that Barclays provides on page 4.
How often should I update my will?
It is important that you review your will regularly to ensure
that it reflects your current wishes and takes into account
changes in both your own circumstances and those of your
intended beneficiaries. A birth in the family, marriage,
bereavement, divorce or separation as well as changes in
financial circumstances may require changes to be made
to your will.
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