In addition to considering if equity release may assist your more immediate financial issues, it also makes sense (at any age) to ensure that you have in place plans for the beneficiaries of your estate, such as writing a Will. It would be wrong to assume that when the worst happens, the law would ensure that your estate went to your loved ones anyway, should there be no Will in place.
Dying Intestate (without a Will) may mean that your estate might not go to the people you intended; or in a way where it may not be shared out as you would have wished. And without a Will, the whole process is slowed down dramatically, often meaning that the family may face financial worries, whilst also having to cope with the loss of a loved one. Additionally, if you have a family member that's incapacitated, you would surely want to set out how they should be looked after. That's why a Will really should be a key aspect of your estate planning.