Where there's a will... there are 500 relatives fighting, or so the old joke goes.

Live forever? No chance. The only certainties in life are death and taxes.

However, there's a way you can take charge of the future, even if you're not around to see it - make a will. But a staggering 66% of the UK population just don't bother.

Why?

Myth: 'My partner inherits everything automatically'
Fact: The term 'common-law' partner has no legal force.

This applies to all partnerships, with or without children. If you don't make a will and are not married or in a civil partnership, then the government is left to decide how your estate is divided up.

Myth: 'My kids will get the lot'
Fact: Yes, but your partner might get nothing

If you're unmarried with children, your estate will be shared equally between your kids. Without a will, your partner gets nothing, not even the family home. Your children won't be able to access the money until they reach adulthood as it will be held in trust.

If your estate's worth under £125,000, and you're married, your spouse gets everything... whatever the circumstances. If you're separated but not divorced, your intended-ex will still inherit. If your estate's worth more, your spouse gets the first £125,000 plus personal effects and a life interest (income only) in the remaining 50% of your estate. Your children don't have rights to heirlooms.

Myth: 'My children won't be allowed to squander it'
Fact: After their 18th birthday, they can do whatever they like!

If your child prefers to spend their inheritance on a Ferrari rather than on university tuition fees, there's no legal way to stop them.

Myth: 'I don't need to worry - I won't be around to see it!'
Fact: That's true...

... but you're a grown-up, so why not make sure you've done the right thing by your family if the worst should happen? Immediately after losing a loved one isn't the best time to get involved in legal wrangling.

Disclaimer: While every effort has been taken to ensure accuracy at time of publication, this information may be subject to change. Always consult your financial advisor.

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