Do I need a Will if I have no assets? Yes. A Will does so much more.

Originally published: 17 November 2017 | Last updated: 6 November 2025

TL;DR: Yes, you need a Will even if you think you have no assets. A Will goes beyond simple wealth distribution because it performs multiple functions. The document creates an Executor to manage your estate and sets a guardian for your children while it describes how you want your funeral handled and gives money to charities and creates clear instructions for your family members. The typical British individual holds more than £147,000 in net worth and most people maintain savings and pension funds and personal items which total around £20,000 even when they don’t own any property.

Do I Really Need a Will If I Have No Assets?

Yes. The distribution of assets stands as the primary purpose of a Will. The legal document which establishes your estate administrators and child guardians and final wish executors exists as this document. The world needs Wills because they create vital impacts which reach all people who know you even if you think you lack anything valuable.

LegalWills.co.uk receives its most common question from customers who want to know if they should create a Will. People respond to our confirmation with the statement “I don’t possess anything of value.” The world functions through a system which people tend to overlook.

How Much Are You Actually Worth?

People tend to make big mistakes when they calculate their total financial worth. Consider these figures:

Asset Type

Typical Value

Average net worth of a British adult

£147,134

Average net worth excluding property

~£20,000

Average private retirement savings (middle-aged, per Aviva)

£53,793

The location of equity becomes visible through unexpected places which include ISAs and insurance policies and workplace pensions and personal belongings and vehicles and digital account records. People do not understand their actual financial worth at any particular time throughout the day. The property distribution follows intestacy laws when people die without Wills which usually contradicts what you would want.

What Does a Will Do Besides Distribute Assets?

A Will performs at least seven critical functions beyond distributing possessions:

1. Who Will Handle Your Affairs When You Die?

Your Will appoints an Executor, the person responsible for managing your estate, paying debts, filing tax returns, and distributing assets. A family member needs to obtain a Grant of Letters of Administration from the Probate Registry through a lengthy Will search process and extensive document preparation because no Executor has been named.

2. Who Will Pay for Your Funeral?

The United Kingdom average funeral cost exceeds £4,000. Your Will allows you to select the person who should handle funeral arrangements and you can specify how these expenses will be covered. The absence of proper guidance would create an immediate financial problem for your family during their most difficult period. You can find additional information about funeral expenses and planning resources at this location.

3. What Happens to Your Children?

The court decides which person should take care of children when both parents die without creating a Will. Relatives who meet the requirements must submit legal guardian applications which judges who lack family knowledge base their decisions on two main factors: income levels and distance between homes. Your Will names the guardian of your choice, and unless there is a strong reason not to, the court will honour your wishes.

4. What About Your Pets?

Pets exist as property according to legal definitions. Your Will allows you to select an animal caretaker and you can create a financial plan to support your pets throughout their lives. Your pets would need to go to an animal shelter if you missed providing them with instructions. Learn more about including pets in your Will.

5. Can You Make Charitable Donations Through Your Will?

A charitable bequest in your Will can make a meaningful gift to causes you care about. Even if you cannot afford to donate during your lifetime, a percentage of your estate can go to charity after death. The Inheritance Tax rate on your estate will drop from 40% to 36% when you donate 10% or more to charity. Learn about planned giving and charitable bequests.

6. What About Your Digital Life?

All digital assets which include email accounts and social media profiles and online banking and photo libraries and cryptocurrency need to be handled. Need to be addressed. Your family members will lose access to important accounts because they lack instructions for closing these accounts.

7. What If Your Circumstances Change?

You are not writing your Will because you expect to die tomorrow. Your Will exists as a document which will stay in effect for three to four decades while your financial situation undergoes major transformations during this time span. A bus accident which leads to a negligence claim would establish new financial resources which would become accessible. Your Will needs to exist now and be updated throughout your life.

What Questions Should You Ask Yourself?

If you do not have a Will, consider the following:

I need somebody to handle my property and personal items after I pass away.

Will they be emotionally and physically able to handle it without knowing your wishes?

Who will take care of funeral expenses when you pass away?

Will you be leaving loved ones in debt?

Who is going to care for your children or pets?

Who inherits if your circumstances change dramatically before you die?

Every answer you provide in your Will removes uncertainty for your loved ones. The service at LegalWills.co.uk walks you through each of these questions systematically.

What Happens If You Die Without a Will?

Dying without a Will during English and Welsh law jurisdiction causes the following legal consequences to occur:

Unmarried partners receive nothing. Regardless of how long you have lived together

The court selects an administrator to handle your estate which creates both time delays and financial charges.

Intestacy rules determine distribution. Your spouse may not receive everything, and your children may have to wait until age 18

No guardian is named for your children. The court decides

No funeral instructions are left. Your family must guess

No charitable gifts are made. Even if you intended to leave something

How Easy Is It to Write a Will at LegalWills.co.uk?

The service at LegalWills.co.uk guides you through every decision in about 20 minutes. For just £49.95, you receive a solicitor-grade document that covers:

Executor appointment (with backup)

Guardian nomination for minor children

Distribution of assets with alternate beneficiaries

Specific bequests (items, cash amounts, percentages)

Charitable donations

Pet care arrangements

Funeral wishes

Digital asset instructions

You can update your Will at any time with an active account. No additional cost, no solicitor appointments, no awkward conversations.

Frequently Asked Questions

Do I need a Will if I am young and healthy?

Yes. People face the risk of accidental injuries and sudden sickness throughout their entire lifetime. A Will keeps your instructions safe through written documentation which survives any time they need to be used. If you have children, a Will is essential for naming a guardian.

What if I only rent my home and have no savings?

You still need a Will. The estate consists of personal belongings together with death benefits from workplace pensions and life insurance payments and all remaining property assets. A Will allows you to select someone who will manage your estate and you can pick people who will take care of your children.

How often should I update my Will?

Review your Will after every major life event. Marriage, divorce, birth of a child, death of a beneficiary, or significant change in assets. At minimum, review it every 3 to 5 years.

Can I write a Will for free?

The basic services exist but free Will kits create major problems because they contain improper witnessing procedures and vague wording and omitted essential sections. A complete service which costs £49.95 provides an excellent value that helps you defend your family members.