Wills for Young Professionals: Under 35s Essential Guide

James was 29, earning £42,000 as a marketing manager, and living with his girlfriend of four years. He kept meaning to write a will but figured he had time—he was young, healthy, and had "barely anything to leave."

When he died unexpectedly from an undiagnosed heart condition, his girlfriend discovered the truth: between his £126,000 death-in-service benefit from work, £15,000 in savings, his half of their £280,000 flat, and his pension, James's estate was worth over £300,000.

Because they weren't married and he died without a will, she inherited nothing. His parents received everything under intestacy law—including the home they'd bought together.

According to the Money and Pensions Service, 56% of UK adults don't have a will—and that figure climbs to 75% for people in their thirties. But here's what most young professionals don't realize: you likely own far more than you think. Your workplace benefits alone could be worth hundreds of thousands of pounds.

Without a will, you have no say in who gets it.

This guide explains why young professionals need wills sooner than they think, what you actually own that needs protecting, the specific risks for unmarried couples and career starters, and how to create a legally valid will in 15 minutes online.

Why Young Professionals Think They Don't Need a Will (And Why They're Wrong)

You've probably told yourself one of these things: "I'm too young," "I don't own enough," "I'll do it when I'm older," or "My partner will get everything anyway."

These are the most common reasons young professionals avoid writing wills. They're also dangerously wrong.

The belief that you don't own enough is particularly common. Research shows that 26% of UK adults cite not having enough assets or wealth as their top reason for not making a will. But when you actually calculate what you own—death-in-service benefits, pension, savings, property share, possessions, and digital assets—most young professionals have estates worth £200,000 to £500,000 or more.

That's not "barely anything."

The "I'm too young" excuse ignores an uncomfortable truth: unexpected death doesn't wait for life milestones. While it's uncommon in your twenties and thirties, the consequences for your loved ones can be severe—and easily avoided with a will.

Here's another misconception: if you're unmarried but living with a partner, they don't automatically inherit. There is no such thing as common law marriage in England and Wales. Your partner has zero automatic inheritance rights, regardless of how long you've lived together or whether you have children.

The "I'll do it later" trap is perhaps the most dangerous. Life doesn't get simpler as you age—it gets more complex. Marriage, children, property, business interests, and blended families make wills harder to write, not easier. Right now, your estate is relatively straightforward. This is the easiest time to create a will.

The psychological barriers are real: fear of mortality, complexity anxiety, procrastination justified by youth. But writing a will isn't about planning for death. It's about protecting what you've built and the people who matter most.

What Young Professionals Actually Own (Your Estate Is Bigger Than You Think)

Let's talk about what you actually own. Most young professionals dramatically underestimate the value of their estate.

Death-in-service benefit from work: This is the asset most people forget. Many UK employers offer death-in-service benefits that pay out 2-4 times your annual salary if you die while employed. If you earn £35,000, that's £70,000 to £140,000. If you earn £50,000, it's £100,000 to £200,000.

The financial services sector offers the highest multiples, averaging 4.63 times salary. A mid-level manager on £50,000 would receive a £231,500 payout—completely tax-free.

Workplace pension: Even early-career professionals accumulate significant pension wealth. If you've been contributing to a workplace pension for five to ten years, you likely have £20,000 to £80,000 or more, depending on your salary and contribution rate. This forms part of your estate.

Savings and investments: Average savings for 25-34 year olds in the UK is £9,357, though this varies significantly. Many young professionals also have ISAs, stocks, cryptocurrency, or other investments that add thousands more to their estate value.

Property or property share: If you co-own a flat or house, your share is a major asset. Even 50% of a £280,000 property equals £140,000. This is often the largest single asset young professionals own.

Student loans: Important note—student loans are written off on death and don't pass to your estate. The average debt for students who finished their course in 2024 was £53,000, but this disappears on death, protecting your beneficiaries from debt liability.

Digital assets: Social media accounts, cryptocurrency, NFTs, digital photos, email accounts, online businesses, and domain names are now recognized as personal property under the Property (Digital Assets etc) Bill 2024. If you own cryptocurrency worth £8,000 or valuable digital art, that's part of your estate.

Possessions: Your car, furniture, electronics, jewelry, collections, and other personal items easily total £10,000 to £20,000 or more. These accumulate faster than you realize.

Here's what typical young professional estates actually look like:

Asset Type	Conservative	Average	High-Earner
Death-in-service	£60,000	£120,000	£231,500
Workplace pension	£12,000	£35,000	£80,000
Savings/investments	£5,000	£15,000	£45,000
Property share	£0	£130,000	£200,000
Digital assets	£0	£5,000	£15,000
Possessions	£8,000	£15,000	£25,000
Total Estate Value	£85,000	£320,000	£596,500

Many young professionals' estates exceed £200,000 to £500,000 when all assets are totaled. That's not "barely anything"—that's a substantial inheritance that needs protecting.

The Unmarried Couples Crisis: Why Cohabitation Offers Zero Protection

This is the single biggest legal risk for young professionals: unmarried partners have no automatic inheritance rights under UK intestacy law.

None. Regardless of relationship length, shared property, or children.

Common law marriage does not exist in England and Wales. Living together for any length of time provides zero legal recognition for inheritance purposes.

Here's what actually happens under intestacy law for unmarried couples: the entire estate goes to blood relatives. Parents inherit first. If there are no parents, siblings inherit. If there are no siblings, the estate passes to more distant relatives. Your partner receives nothing.

Sarah and Tom had been together for eight years. They owned their £300,000 flat jointly and had a four-year-old daughter. When Tom died in a car accident without a will, Sarah faced a devastating reality: Tom's half of the flat (£150,000) and his entire £180,000 death-in-service benefit went to his estranged parents. Sarah had to negotiate with people Tom hadn't spoken to in years just to keep the home she'd lived in for a decade.

Even worse, their daughter inherited Tom's share—but couldn't access it until she turned 18. Sarah, as the surviving parent raising their child alone, received nothing from Tom's estate to help with childcare costs or living expenses.

Unmarried partners can make a claim under the Inheritance (Provision for Family and Dependants) Act 1975 if they cohabited for 2+ years immediately before death. But this requires expensive legal proceedings during grief, with no guarantee of success. Claims must be made within six months of the Grant of Probate.

Compare what happens with the same £300,000 estate:

Scenario	Married Couple	Unmarried Couple
Who inherits estate?	Spouse inherits everything	Blood relatives inherit everything
Partner's share	100% (£300,000)	£0
Can partner stay in shared home?	Yes, automatically	Only if they can buy out deceased's family
Children's inheritance	Spouse manages until children are adults	Children inherit, but can't access until 18
Legal costs to claim	£0	£5,000-£15,000+ (court proceedings)

The government announced in February 2025 that they will consult on cohabitation rights reform, but there's no timeline for law changes. Don't wait—a will is the only way to guarantee your partner inherits if you're unmarried.

Career-Specific Considerations: What Your Job Means for Your Will

Your employment benefits create specific will-writing needs that many young professionals overlook.

Death-in-service schemes: Not all employers offer these benefits. Check your benefits package or HR portal to see if you have one. Typical payouts range from 2-4 times your annual salary, paid as a tax-free lump sum.

Nomination forms vs. wills: Many workplace schemes use "expression of wish" or nomination forms where you specify who should receive your death-in-service benefit. Here's the critical point: these forms are NOT legally binding. Scheme trustees have discretion and can override your nomination.

A will provides stronger legal direction for your entire estate and reinforces your death-in-service wishes. Always complete both—the nomination form for your employer's records and a will for legal protection.

Sector variations: Financial services companies offer the highest death-in-service multiples, averaging 4.63 times salary. Public sector positions typically offer 3 times salary. Private sector varies widely, with some offering nothing and others providing 4 times salary or more.

Here's how death-in-service benefits compare by sector:

Industry	Typical Multiple	Example (£40,000 salary)
Financial services	4.63x	£185,200
Public sector	3x	£120,000
Private sector	2-4x	£80,000-£160,000
Tech/startups	2-3x	£80,000-£120,000

Contract changes: When you change jobs, your death-in-service benefit changes. If you move from a company offering 2x salary to one offering 4x salary, your estate value just doubled. Review your will whenever you switch employers to ensure your beneficiaries and distributions still make sense.

Business owners and freelancers: If you run a business or are self-employed, you need succession planning even as a young founder. Who takes over your client relationships? What happens to your business assets, intellectual property, and contracts? These questions require clear answers in your will.

Stock options and equity: Tech and startup employees with share options or restricted stock units need to specify what happens to unvested options. Some employer plans allow beneficiaries to exercise vested options after death, but unvested options typically expire. Check your equity agreement and document your wishes.

Your employment benefits are a major asset class that many young professionals ignore. Don't make that mistake.

Digital Assets and Modern Estate Planning: Crypto, Social Media, and NFTs

Young professionals are the first generation to own substantial digital wealth—and most have no plan for what happens to it.

New legal recognition: The Property (Digital Assets etc) Bill, introduced to Parliament in September 2024, recognizes cryptocurrency, NFTs, and digital assets as personal property under UK law. This means they can be inherited like any other asset.

The bill confirms a "third category" of personal property—beyond physical possessions and traditional financial assets—specifically designed to accommodate digital holdings.

What counts as digital assets: Cryptocurrency (Bitcoin, Ethereum, altcoins), NFTs and digital art, social media accounts (Facebook, Instagram, LinkedIn, TikTok), email accounts (Gmail, Outlook), digital photo libraries (Google Photos, iCloud), online businesses and domain names, gaming accounts with valuable items, cloud storage, and subscription services.

Access challenges: Marcus died at 33 with £8,000 in cryptocurrency spread across three exchanges. His partner knew the crypto existed but had no way to access it. The accounts required passwords, two-factor authentication codes tied to Marcus's phone, and recovery phrases he'd never shared. Without access information, the £8,000 might as well not exist.

This is the digital asset dilemma: unlike bank accounts that executors can access with a death certificate, digital assets are often locked behind encryption and authentication that dies with you.

How to include digital assets in your will:

Specify that digital assets exist and give your executor authority to access and distribute them
Name asset categories generally (cryptocurrency, social media, cloud storage) rather than specific accounts that may change
Don't list passwords in your will itself—wills become public documents during probate
Store access information securely in a separate location (password manager with emergency access, sealed envelope with solicitor, secure note in safe)
Tell your executor where to find the access instructions

Cryptocurrency considerations: Crypto values can change dramatically between death and distribution. In your will, specify whether you want executors to distribute cryptocurrency directly to beneficiaries (who assume the volatility risk) or convert to cash first and distribute the proceeds.

Social media memorialization: You can specify whether you want accounts deleted, memorialized (Facebook offers this), or maintained. Some people want their digital presence preserved; others want everything deleted. Make your preference clear.

Tax implications: Digital assets count toward your estate value for inheritance tax purposes. If your total estate exceeds £325,000, everything above that threshold is taxed at 40%. If you own £50,000 in cryptocurrency plus other assets, factor this into your estate planning.

Practical tip: Create a digital asset inventory document separate from your will. List all accounts, approximate values, and where access information is stored. Update it annually. Tell your executor where to find it. This document is your roadmap for digital inheritance.

What Happens If You Die Without a Will: Real Intestacy Outcomes for Under 35s

When you die without a will in England and Wales, the government decides who inherits based on strict intestacy rules. Here's what actually happens to young professionals' estates.

Scenario 1: Single person, no children, parents alive

Emma, 27, died unexpectedly with an estate worth £180,000 (death-in-service benefit, savings, car, possessions). She had no will. She'd wanted half her estate to go to her sister who'd helped her through university, and the other half split between her parents.

Under intestacy law, her entire estate went to her parents. Her sister received nothing. Emma's wishes didn't matter—she hadn't legally documented them.

Scenario 2: Unmarried couple, no children

We've already seen James's story. His £300,000+ estate went entirely to his parents while his girlfriend of four years—the woman he'd planned to marry—inherited nothing. She lost both her partner and the home they'd bought together.

Scenario 3: Unmarried couple with children

Rachel and David weren't married but had two children (aged 5 and 7). When David died with a £250,000 estate, Rachel received nothing under intestacy law. The entire estate went to their children—who couldn't access it until they turned 18.

Rachel, suddenly a single parent raising two young children alone, received no financial help from David's estate during the most difficult years. She had to apply for court orders just to access funds for the children's immediate needs.

Scenario 4: Married but no children, parents alive

Sophie and Jake were married for three years with no children. Under intestacy rules, the surviving spouse receives the first £322,000 of the estate plus half of anything above that threshold. The other half goes to the deceased's parents.

If Jake's estate was worth £400,000, Sophie would receive £322,000 plus £39,000 (half of the £78,000 remainder), totaling £361,000. Jake's parents would receive the other £39,000. If Jake's relationship with his parents was strained, this outcome contradicts what he likely wanted.

Hidden costs of intestacy:

Legal disputes between family members
Frozen bank accounts until administration is complete
Delayed access to funds (9-12 months average vs. 6-9 months with a will)
Forced home sales to split assets among multiple beneficiaries
Expensive court proceedings to resolve disputes
Destroyed family relationships over money

You can review the full intestacy rules on the official gov.uk guidance.

The emotional cost is equally severe: grieving loved ones must navigate complex legal systems, argue about money, and watch your estate distributed in ways you never intended—all during the worst time of their lives.

Life Events That Should Trigger Will Creation or Updates

Certain life events should prompt immediate action. If any of these apply to you, write or update your will this week.

Moving in with a partner: First-time cohabitation creates joint assets and shared financial lives. This is when unmarried couples become most vulnerable to intestacy risks.

Buying property together: Co-ownership of a home is often your largest shared asset. Without a will specifying your wishes, your partner may have to negotiate with your family to keep living in your shared home.

Starting a new job with death-in-service: Your estate value just increased by £80,000 to £150,000 or more overnight. Update your beneficiaries and review whether your current distributions still make sense.

Accumulating savings or investments: Once you have £10,000+ in accessible assets, you have enough to protect. This is your financial security—make sure it goes where you intend.

Receiving an inheritance: If you inherit money or property from a family member, you need to specify where it goes if you die. Don't let your inheritance disappear into intestacy rules.

Starting a business or freelancing: Business assets, client relationships, contracts, and intellectual property all need succession planning. Even young founders need wills that address business ownership.

Estrangement from family: If you don't speak to your parents or siblings, intestacy rules will give them everything. A will is your only way to ensure estranged relatives don't benefit from your estate.

Long-term relationship with no marriage plans: If you're committed but not marrying, a will is your only legal protection for your partner. Don't rely on plans to marry "someday"—protect your partner now.

Travel or high-risk activities: Planning extended international travel, taking up extreme sports, or changing careers to a higher-risk field? Get your affairs in order before you go.

Diagnosis of any health condition: Even minor health conditions warrant getting your estate planning done. You never know how situations will evolve.

Best practice: Write your first will as soon as you have £10,000+ in assets OR a partner you want to protect. Review it every 3-5 years or after major life events. Most young professionals should write a will now and update it as life changes.

How Young Professionals Can Write a Will (Without the Solicitor Fee)

The traditional solicitor route stops most young professionals before they start.

Traditional solicitor costs: A simple will from a solicitor typically costs £150-£400+, with complex wills reaching £500 or more. You'll need multiple appointments scheduled during working hours, formal office visits, and weeks of back-and-forth communication.

Why young professionals avoid solicitors: The cost feels disproportionate when you're just starting your career. The time commitment is difficult with busy work schedules. The formal environment is intimidating. Many don't feel "wealthy enough" to justify solicitor fees.

These barriers prevent 75% of people in their thirties from writing wills—leaving them legally vulnerable.

Modern online alternative: Services like WUHLD make will-writing accessible. Write your will in 15 minutes from your sofa. Pay £49.99 one time—no subscriptions, no hidden fees, no expensive appointments.

What you get with WUHLD:

Your complete, legally binding will
A 12-page Testator Guide explaining how to execute your will properly
A Witness Guide to give to your witnesses
A Complete Asset Inventory document to organize your estate

Solicitors typically charge £650+ and provide only the will itself. You get four documents for less than 8% of the solicitor cost.

When to use online vs. solicitor:

Online will services like WUHLD are perfect for straightforward estates:

Simple asset distribution (percentages or specific amounts to named beneficiaries)
UK-based assets
Standard family situations
No complex trusts or tax planning needs
No assets abroad

You need a solicitor for complex situations:

Significant business ownership requiring succession planning
Assets in multiple countries
Complex trust arrangements for disabled beneficiaries
Contested family dynamics with high litigation risk
Estates likely to exceed inheritance tax thresholds significantly

For most young professionals with straightforward estates, online services provide identical legal validity at a fraction of the cost.

Legal validity: Online wills are legally identical to solicitor wills if properly witnessed. You need two independent witnesses who:

Are over 18
Are not beneficiaries in your will
Are not married to or in civil partnerships with beneficiaries
Watch you sign your will in their presence

That's it. Follow these rules and your will is legally binding.

What you'll need to know before you start:

List of your assets (approximate values are fine)
Full names and addresses of beneficiaries
Who you want as executors (two people, over 18, responsible)
Guardian choices if you have children under 18
Any specific items you want to leave to specific people

How long it takes: Most straightforward young professional wills are completed in 15-20 minutes. If you have your asset list prepared, you can finish even faster.

Preview before paying: WUHLD lets you complete your entire will and preview it before paying anything. You'll see exactly what you're getting. No credit card required until you're ready to download and print.

The "I can't afford it" objection doesn't hold up. Can you afford for your unmarried partner to lose £200,000 to £500,000? That's what happens without a will.

What to Actually Put in Your Will as a Young Professional

Your will needs five essential components. Here's what to include and how to think about each one.

1. Executors

Choose two executors—these are the people who'll distribute your estate according to your will. Good choices include:

Your partner or spouse
A sibling who's responsible
A close friend who's organized
A parent (if your relationship is good)

They must be over 18 and willing to take on the responsibility. Having two executors provides backup if one is unable to act and shared decision-making for important choices.

2. Beneficiaries and distributions

Who gets what? You have two options:

Specific amounts: "£5,000 to my sister, £10,000 to my best friend, £3,000 to animal charity"

Percentage-based: "50% to my partner, 25% to my sister, 25% to my brother"

Percentage-based distributions often work better for young professionals because your estate value will change. If your death-in-service benefit doubles when you change jobs, percentages automatically adjust.

3. Residuary estate

Everything not specifically mentioned goes to your residuary beneficiary or beneficiaries. This is usually your primary inheritance—your partner, children, or parents. Be specific: "I leave my residuary estate to my partner Sarah Mitchell in equal shares with my sister Emma Foster."

4. Backup beneficiaries

What happens if your primary beneficiary dies before you? Name backup beneficiaries for each gift. For example: "If Sarah Mitchell does not survive me, I leave my residuary estate to my sister Emma Foster."

This prevents your carefully planned will from failing into intestacy if circumstances change.

5. Digital assets clause

Include a statement like: "I give my executors authority to access, manage, and distribute my digital assets including but not limited to cryptocurrency, social media accounts, email accounts, cloud storage, and online accounts according to my wishes."

This legal authorization helps executors overcome platform restrictions and access your digital property.

Optional elements:

Specific items: You can leave particular possessions to specific people. "My vinyl record collection to my cousin James. My engagement ring to my niece Charlotte." Be specific enough that executors can identify the items.

Charitable donations: If you want to leave money to charity, include the charity's full legal name and registration number to avoid confusion.

Guardians: Only relevant if you have children under 18, but absolutely critical if you do. Name who should raise your children if both parents die.

What NOT to include:

Passwords or access codes (security risk when wills become public)
Illegal wishes (executors can't fulfill them)
Conditions that violate public policy ("My sister inherits only if she divorces her husband")
Funeral wishes (wills are often read after funerals—use a separate funeral wishes document)

Keep it simple: Young professionals with straightforward estates should avoid unnecessary complexity. You can always update your will later as your situation becomes more complex. Focus on the essentials: executors, beneficiaries, distributions, and backups.

Taking Action: Write Your Will This Week (Not "Someday")

You've read this far. You know you need a will. Now comes the critical moment: taking action.

Why now, not later: Life gets busier and more complex, not simpler. You're never as young and healthy as you are today. Marriage, children, property purchases, business ventures—each adds complexity to your estate planning. The longer you wait, the harder it becomes.

Unexpected death doesn't wait for convenient timing. You don't get a warning that says "now is the time to sort out your will." It happens suddenly, and your loved ones deal with the consequences.

The 15-minute commitment: Writing your will takes less time than your lunch break. Less than one Netflix episode. Less than your morning commute. You can do this today—right now—and be done.

What happens after you write it:

Store your will safely in a fireproof location or with your solicitor. Tell your executors where to find it—a will that nobody can locate is useless. Review it every 3-5 years or after major life changes (marriage, divorce, children, house purchase, new job). Update it when your circumstances change—all updates are included free with WUHLD.

Common final objections addressed:

"I'll wait until I'm older" → You'll have more assets, more beneficiaries, and more complicated family dynamics to organize then. Simple estates make will-writing easier, not unnecessary.

"My situation is too simple" → Simple situations are exactly when you should write your will. It takes 15 minutes when you're young with few assets. It takes months when you're older with complex holdings.

"It's too expensive" → £49.99 one-time payment protects assets worth £200,000 to £500,000+. That's 0.01% to 0.025% of your estate value. You pay more for a nice dinner.

"I need to think about it more" → What specific question do you need answered? You can preview your will free before paying anything. If you're not sure, start the process and see your completed will—then decide.

The peace of mind payoff: Once your will is done, you never have to think about "what if" again. Your partner is protected. Your family won't fight over your estate. Your wishes are legally documented. You've acted like the responsible professional you are.

You're about to join the responsible 25% of people in their thirties who have wills. The other 75% will keep putting it off—until it's too late.

Your next step:

As a young professional, you've built more than you realize:

Your estate likely totals £200,000-£500,000+ including death-in-service benefits, pension, savings, property share, and possessions
If you're unmarried, your partner has zero automatic inheritance rights under UK intestacy law—a will is their only protection
75% of people in their thirties don't have wills, but unexpected death doesn't wait for age milestones
You can create a legally valid will online in 15 minutes for £49.99—preview it free before paying
Include death-in-service benefits, digital assets, and clear executor instructions; update every 3-5 years or after life changes

You've worked hard to build your career, save money, and create a life with the people you love. A will isn't about planning for death—it's about protecting what you've built and the people who matter most.

Twenty years from now, you won't regret writing your will this week. But if something happens before you do it, your loved ones will face consequences you never intended.

Create your legally valid will today with WUHLD. For just £49.99, you'll get your complete will plus three essential guides (testator guide, witness guide, and estate information pack). Preview your completed will free before paying a penny—no credit card required.

Most young professionals finish in 15 minutes.

Preview Your Will Free – No Payment Required

Legal Disclaimer: This article provides general information about will-making for young professionals in the UK and does not constitute legal advice. For advice specific to your individual situation, please consult a qualified solicitor. WUHLD's online will service is suitable for straightforward UK estates; complex situations (such as business ownership, assets abroad, disabled beneficiaries, or contested family dynamics) may require professional legal advice. Intestacy rules described apply to England and Wales. Scotland and Northern Ireland have different succession laws.

Frequently Asked Questions

Q: Do I really need a will in my 20s or 30s?

A: Yes. Young professionals typically own £200,000-£500,000+ in assets when combining death-in-service benefits, pensions, savings, property shares, and possessions. Without a will, intestacy rules control distribution—and unmarried partners inherit nothing regardless of relationship length. A will ensures your assets go where you intend.

Q: What happens to my student loan if I die?

A: Student loans are completely written off when you die. The outstanding debt and accrued interest are cancelled and do not pass to your estate or family members. This protects your beneficiaries from inheriting student loan debt.

Q: Will my partner inherit if we're not married?

A: No. Unmarried partners have no automatic inheritance rights under UK intestacy law, regardless of how long you've lived together or whether you have children. Common law marriage doesn't exist in England and Wales. Without a will, your entire estate goes to blood relatives—your partner receives nothing.

Q: Can I write my will online or do I need a solicitor?

A: You can write a legally valid will online if your situation is straightforward. Online services like WUHLD cost £49.99 and take 15 minutes, compared to solicitors who charge £150-£400+ and require multiple appointments. Online wills are legally identical to solicitor wills if properly witnessed. Complex situations—business ownership, assets abroad, disabled beneficiaries—may benefit from solicitor advice.

Q: What happens to my cryptocurrency and digital assets if I die without a will?

A: Without clear instructions, your executor may face significant challenges accessing digital assets like cryptocurrency due to passwords, two-factor authentication, and encryption. The Property (Digital Assets etc) Bill 2024 recognizes crypto and NFTs as personal property that can be inherited, but your executor needs access information to retrieve them. Include digital assets in your will and store access instructions securely.

Q: How much does death-in-service pay out?

A: Most UK employers who offer death-in-service benefits pay 2-4 times your annual salary. If you earn £40,000, that's £80,000 to £160,000. Financial services companies offer the highest multiples, averaging 4.63 times salary. The payout is tax-free and typically paid directly to your nominated beneficiaries, though nomination forms aren't legally binding—a will provides stronger legal direction.

Q: How often should I update my will?

A: Review your will every 3-5 years and update it after major life events: moving in with a partner, buying property, changing jobs, receiving an inheritance, starting a business, marriage, having children, or divorce. Life changes affect your assets and beneficiaries, so your will should reflect your current circumstances.

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