A high percentage of people put off making a Will for a variety of reasons, being under the impression either believing that the people they would wish to inherit will automatically do so. Or at this present time they don’t think it is relevant to make a will.
The reality is that you can put off making a Will until it is too late and this poses all sorts of problems for the people left behind and could mean that some or all of your inheritance either goes to the wrong person or to the crown.
Who Needs to Make a Will?
The answer is everyone. In particular, anyone with dependant relatives, (children under the age of 18, elderly relatives or relatives with a disability who have special needs), anyone who owns property or has any type of asset which you would wish relatives, friends or charities to benefit from.
BUT WON’T EVERYTHING GO TO MY HUSBAND/WIFE/CIVIL PARTNER/PARENTS/CHILDREN/RELATIVES OR FRIENDS AUTOMATICALLY?
This is a common misconception and dependant on the value and size of your estate, there are set rules which will be applied to determine who inherits, and how much, if you do not make a Will.
AFFORDING YOU “THE PEACE OF MIND”
Making a Will enables you to plan exactly what will happen to your property (estate) following your passing away. This ensures that those you would like to benefit actually do so, in accordance with your wishes and at the same time avoiding any possible disputes between friends and families.
WHAT HAPPENS IF I DON’T MAKE A WILL?
This is called dying Intestate, in simple language, leaving a mess! There are specific rules of intestacy which set out who will inherit and by how much if you do not leave a valid Will. This may not be what you would have wished and in the worst case scenarios where relatives cannot be traced, your assets will be taken by the Crown.
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