A report published this year detailed that a huge 60% of the UK population do not yet have a Will. For many people this could be catastrophic. In short, if you do not have a Will the government will ultimately decide what happens to any children and how your estate will be distributed. Hands up those of you that were not aware of that statement above! Unfortunately a huge proportion of the UK population will have their hands held up like some of you.
Let’s look at this in a little more detail, first up – The main reasons why you should make a Will:
- You can decide how your estate is shared, remember if you do not write a Will the Crown will decide!
- If you are an unmarried couple you can ensure that your partner is provided for
- If you are divorced you can decide whether you would like anything left to your former partner
- You can reduce the amount of Inheritance Tax that may be due
Secondly – The excuses used for not making a Will:
“I don’t have anything to leave behind”:
This is probably the most common reason why people do not make a Will. Unfortunately people often forget the value of their properties, in fact most people have money or assets which justify making a Will.
“We do not have time to make a Will“:
Making a Will can be extremely quick and easy. There is no excuse for putting it off because of lack of time. You can now make your Will online alternatively your Will can be prepared very quickly by Solicitors. The online option is often much cheaper. We will write more about online Will providers in the near future.
Making a Will can be very quick, very easy and above all offer peace of mind. There is no reason why you should put it off.