Did you know that around 27 million adults in the UK have not made a will?
This can have serious consequences, especially if you’re a parent. Dying without a will means the law will simply run its course, often against your wishes. It’s a huge risk that leaves you powerless over your assets.
Why A Professional Will Is Essential
The technical term for passing away with no valid will is ‘dying intestate’. If this happens, your money, possessions and property will be divided up according to the law, and the people you love most dearly could inherit nothing.
For example, if you have a life partner but are unmarried and die ‘intestate’, your partner would receive nothing in terms of the law. If you have children this can complicate things further, as the law often places them above your partner in the pecking order – and if you have children from a previous marriage or relationship, they could be completely passed by too.
Dying without a will means you have no control over who stands to inherit your assets and even worse, if you pass away with no close relatives, your estate could pass automatically to the government, who claim millions of pounds from this every year.
Writing a will can be easy and some people feel they save money by doing it themselves. But more often than not, it’s tricky and you are well advised to get professional help. It’s not that expensive particularly in relation to the value of what your estate may be worth.
The sooner you plan ahead, the sooner you’ll get peace of mind. And if you use the services of a Solicitor or a Professional Will Writer, you will be asked to consider the following as a minimum.
1. Who exactly do you want your benefactors to be. Rather than letting the law decide, you can divide up your inheritance in whatever way you want.
2. Who do you want to nominate as your children’s guardians. If you have children under 18 and the worst does happen, you need to plan ahead for their future.
3. Who do you want your executors to be. Pick the person or persons you trust who will make sure your will is properly adhered to.
4. Do you have any specific wishes for specific possessions. Many of us have treasured heirlooms or keepsakes – a well-written will lets you pass these heirlooms onto the person or persons you want to have them.
If you would like any help or advice about selecting a Solicitor or Professional Will Writer, please feel free to contact us. We will be happy to assist.