Your property is known as your estate. A valid Will will enable your estate assets to be dealt with upon your death according to your wishes. If you do not have a valid Will then the law set by Parliament sets out what is to happen to your estate assets. This may not be in accordance with your wishes. Further, more costs and delay are experienced where there is no Will.
There are many formalities which must be complied with in preparing a Will. For example, the Will must be in writing and the Will must be signed and witnessed in accordance with the Wills Act. Only a person with mental capacity can prepare a Will. Generally a person must be over 18 years of age to sign a Will.