A Will can help you appoint someone you trust (‘Executor/Trustee’) to look after your estate for the ultimate benefit of your beneficiaries, if you have Children then a Will can appoint guardians for your children. Another main factor of having a Will means you avoids the Rules of Intestacy.
When having a Will this will give your Executors the authority to deal with your estate which can include: Investments, Bank Accounts, Property and Probate.
If you don’t have a valid Will your property will pass according to The Laws of Intestacy. This may not be what you would have wished for but also it is likely that it will take longer to administer your estate and your beneficiaries may not be able to draw any money from your estate which can also lead to arguments and distress for your relatives.