DO I REALLY NEED A WILL?
(an informative article by Steele Rose & Co Ltd – the UKs premier Home Visit Specialist Will Writing Company)
Amazingly over 60% of the thousands of people who die in the UK every day have not made a Will which only adds to their family’s distress giving them the problems of dying Intestate (dying without leaving a Will).
Despite precautions such as insurance, pensions etc many assume that if they die without making a Will all their possessions will pass automatically to their spouse, partner or other near family. This is not necessarily the case!
Dying Intestate means that you have no choice of who sorts out your affairs and that can mean long delays and uncertainty, even financial hardship for those left behind. The law of Intestacy will divide your estate arbitrarily in accordance with set rules ... not necessarily as you may have wished.
Your family? Will they be provided for as you would wish or will they face financial difficulties?
Your home? Will your spouse or partner have to sell if you die?
Your possessions? Will they be distributed to the right people and in a way you want?
Your assets? Will everything be located and dealt with?
Your children? Will they be cared for as expected and by whom?
If you have made no provisions, they could end up under the care of the local authority
Your instructions? Will they be carried out - by whom and how will they know what they are?
Without a Will the law decides how your property will be distributed.
Of course you don’t have to engage a specialist Will writing company. You can always purchase a DIY Will form from the Post Office or a high street stationer and some are attracted by the ability to have a Will drawn up on -line. But with the inevitable errors and omissions that creep in due to the lack of professional advice, is this really the best method of dealing with the savings and property accrued over a lifetime? It is interesting to note that the legal profession make a lot of money from unravelling the errors in failed Wills – money that is paid by the estate or rather, the beneficiaries!
Some decide to go through their Trade Union or High Street Bank – but again one has to ask how much specialist advice is given on such occasions? Surely such a vital document should be drafted with utmost care and attention to detail. This is precisely the reason why specialist Will writing firms are increasingly the choice of those who take the matter seriously.
Every adult should make a Will even if you believe you have nothing to leave. Have you ever considered what could be involved for your family if you were to die unexpectedly (in a road accident perhaps) without having a properly produced Will in place? Remember accidents do happen ... and usually without any warning!
See page 35 in the June 2008 edition.
See page 54 in the July 2008 edition.
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