Three out of five people in the UK do not have a Will in place that details what happens to their affairs, dependents and assets once they die.
Why do so many people put off making a new Will?
Some people believe that their friends and family will be able to decide between them who should inherit what. Actually, these decisions are taken out of the family’s hands entirely. The state intervenes employing the strict rules of intestacy. Others may feel that they are too young and healthy to worry about making a Will.
Making a Will is often thought to be a complicated, lengthy process and expensive, which is another reason why many people may choose to put it off until another day.
Let’s just address some of these concerns.
Leaving it to chance
If you die without having a valid Will in place, then the law will decide who should inherit what from you. This is determined under the Rules of Intestacy, which put your relatives into a set order of priority. These rules are strict and do not acknowledge unmarried partners or step-children, so you could find that some of your loved ones would be set to inherit nothing from you. With a Will, you can create Trusts to help preserve wealth for future generations, protect against residential care costs or help vulnerable or disabled beneficiaries.
I’m not going to die anytime soon
Yes, but… You may be young and healthy, but you never know when the unthinkable might happen, so it makes sense for everyone to have a Will.
A Will is specific to an individual, there is no such thing as a general Will. Your Will covers your funeral wishes for example, and if you have dependents, appoints people you trust to look after your children under 18 years (Guardians).
Making a Will is complicated and expensive
Making a Will is actually really easy. The more discussion and thinking you do before you engage a lawyer or Will writing service the better. At JMP Solicitors we have a questionnaire that helps you to have a structured approach to all the matters you need to think about. You can complete this before you make an appointment speeding up the drafting process.
The fixed fee we quote is the fee you pay. There will be no nasty surprises. The fee includes free, secure storage.
If you would like further information regarding making a will, please call 01476 855487 and ask to speak to a member of the wills and probate team or email firstname.lastname@example.org