Your Will is an important document. It describes what you would like to happen to your estate following your death, and would normally cover bank accounts, investments, your home and your personal possessions as well as setting out your funeral wishes.
Making a Will means sorting out your affairs is easier and clearer for your family.
The Money Advice service also has information about making a Will.
After you die, the people tidying up your affairs have to calculate the value of your estate; your savings, possessions, pension funds and your property and take off any debts and funeral expenses. Depending on how much is left, there might be Inheritance Tax to pay.
The Money Advice service also has information about Inheritance Tax.