Why should you make a Will – it’s never too early but often too late!
Many people put off making a will for lots of reasons, inheriting automatically or the thought of death planning is too much to contemplate.
But the reality is by putting off making a Will can be too late and you are inadvertently creating months/years of stress for your loved ones or you may unintentionally end up with your estate in the wrong hands.
Watch our video to find out more!
Peace for Mind
Once you have signed a Will, you will feel peace of mind for making a Will, knowing following your demise you have expressed your wishes in your Will with regards to how you wich your estate to be distributed.
Who needs a Will?
Everyone over the age of 18.
More importantly, anyone with children (especially under the age of 18), anyone who owns property or a particular asset you want someone specifically to benefit from.
Doesn’t everything pass automatically?
Any jointly owned assets do pass outside of a Will, but why would you want that to happen?
If you are concerned about divorce, re-marriage, sideways disinheritance, generational IHT or even care costs, you need to make a Will.
What happens if I don’t make a Will?
The simple answer, you will die intestate. Meaning your estate will be spilt up under the rules of intestacy and in certain scenarios whereby relatives cannot be traced, your assets will be taken by the Crown.
But don’t worry the government has written a standard Will, for people who die intestate, which will almost certainly contradict what their would have been ….
… To my Family
I hereby leave you all several months, possibly years, of financial hardship and expense, whilst you go to unnecessary lengths to sort out my affairs.
…To my spouse/Partner
I hereby leave you some (but probably not all) of what I own.
…To my Children
I hereby leave you the remainder of my Estate and give you the authority to enforce the sale of any part of it (including the family home) to release your inheritance.
…To Social Services
If my Children are orphaned, I give you the authority of Guardianship and the Power to choose who shall look after them, including allocating them to foster parents.
…To the tax man
I hereby leave you all the Tax that I could have avoided and given to my family.
…To my Bank and/ or solicitor
I hereby authorise you to charge whatever you feel necessary, to sort out the mess that I have left behind. I realise that this could make you one of the major beneficiaries of my Estate.
…To everyone else
I leave you nothing!
The absence of a Will can cause problems, heartbreak, financial hardship and unnecessary expense for your family, at the very worst possible time.