Nobody likes to think about death and will go to great lengths to avoid any discussion around it. As a lawyer it is my job to talk about death on a daily basis and I never give it a second thought. However, I fully understand that for most people the making a Will is something they may never have done before and can be a daunting prospect. Lawyers are no different from the rest of the population, the same percentage of lawyers as the general public don’t have a will. Really, they should know better. So don’t give yourself a hard time if you haven’t got around to making one. Hopefully, what follows will give you a gentle nudge and encourage you to take the plunge.
Unsurprisingly, the highest percentage of people without a will are in younger age groups. If you are aged between 18-34 then roughly 80% to 85% of you won’t have a Will. If you have parents over the age 55 then approximately 35% of them won’t have a Will either. For those of you who have dealt with a parent’s or a friend’s estate, particularly when they died without a Will, you will know the stress it can cause. You quickly realise that if they had made a Will, it would have made the unfortunate experience a little easier to deal with. But even knowing how stressful it can be some of you will still be without a Will.
Here are my top 7 reasons why people are put off from making a Will:
- Fear – if I talk about it, I will die sooner.
- Apathy – I’ll do it tomorrow.
- Cost – it costs a lot to make a Will, it doesn’t.
- My estate will go automatically to their spouse/partner/children.
- I don’t have anything much to leave.
- Not wanting to upset family or friends with the gift choices you make.
- Going to a lawyer is just too intimidating.
Here are 10 essential reasons to make a will or re-view your current Will:
1. Having children, stepchildren, getting married, living together, living together and with children, owing property in the UK, owning property abroad, getting divorced, inheriting from parents, winning the lottery, illness, in fact, most events in your life.
2. To ensure that your assets go to the people you want them to go to.
3. To provide for your partner. Unmarried couples will not automatically inherit upon the death of their partner, as they have no legal entitlement to the deceased’s estate unless you have left a Will.
4. To provide for your spouse or young child by setting up a Trust.
5. To provide for stepchildren. Stepchildren will not automatically inherit from their respective stepfathers or stepmothers estate therefore to benefit any stepchildren they must be specifically included in the Will.
6. Off-the-shelf wills are popular. They are quick and cheap and are perfectly valid if filled in correctly. WH Smith has sold over a million of its £9.99 Will Packs. DIY Wills can be a legal minefield that should be avoided. You are thinking a lawyer would say that, but truth of the matter is; if your estate is worth more than the paper it is written on (£9.99) then seek advice. Trust me, the lawyers you will need to seek help from, should you need it corrected, will make more money if you get the DIY Will wrong. The number of families fighting over estates is on the increase every year.
7. If you have a Will and are going through a separation or divorce and you die before your divorce is absolute, the about to be ex-partner will still benefit under the terms of your will even if you don’t want them to. If the divorce is absolute and you still want your ex-spouse to benefit, you will need to have a new Will because if he/she is included in the old Will he/she will be deemed to have died.
8. To appoint guardians for your children.
9. To nominate executors. By making a Will you can ensure that someone you trust is appointed in a simple and cost-effective manner to ensure that your beneficiaries receive their inheritance
10. To avoid unnecessary costs or family conflicts. To make sure that someone who might automatically benefit if you did not make a Will doesn’t benefit full stop. By making a Will your wishes are expressed clearly to family and friends.
Making a Will doesn’t bring your death any closer, just as one magpie will not ruin your day. If you are a parent and in particular, a single parent, making a Will is really important in providing long-term security for your child. In my experience as a Lawyer, as we get older we all have more “stuff” to leave. Also, you will always upset or disappoint someone in your Will but like many others’ before them, they will learn to deal with it. It’s also true that not all lawyers are intimidating, so come in for a chat or we’ll come to you for a visit.
This article was contributed by Chiswick based law firm The Law House, specialists in family law. Their aim is to keep it simple, with a fresh and easy approach—no ticking clocks and best of all they can travel to you! Book an appointment and get your affairs in order. For more information please visit: www.thelawhouse.com
