Over half of all adults currently living in the UK do not have a Will.
What does this mean for them in the future?
It is a common misconception by many that they are too young to make their Will, that it might be a bad omen and that we are all going to live to a ripe old age.
Unfortunately, whilst it is true that life expectancy has increased steadily for both men and women in the UK so has the rising rates of dementia and cancer.
In order for a Will to be valid you must have the mental capacity to understand at the time of its preparation what you are doing and what it entails.
Also, as the recent Covid pandemic has shown our lives can be changed in an instant.
Many lives of all ages have been lost to this deadly virus and many will have died without making a Will.
Covid has been a stark reminder of the fragility of life and shown us that none of us can predict our future health. Anyone of us could suffer a catastrophic accident, injury or stroke that could leave us without the capacity to make a valid Will.
Protect your family with a Will
So many of us spend time ensuring we have secure pensions and policies for our old age but fail to realise the repercussions of not making our Will.
We all want to protect and provide for our loved ones in the future and after our death.
Leaving no Will means that your family have no clear instructions on how you would want your estate distributed and without a Will your estate will be divided amongst your family under strict Intestacy rules.
This could have disastrous consequences for any partner or cohabitee as they are not included in those rules.
Many families are blended and not making a Will could mean that members of your new family could lose out on their inheritance.
Making a Will can also help you plan to reduce any Inheritance Tax that may become liable after your death.
Your Will should be reviewed regularly and amended to include any changes that occur during your lifetime, and we can help you with that also
So, you see, you have nothing to lose making your Will and you will have peace of mind that your family will be provided for just as you wish after your death.
We are happy to provide our expert professional advice when drafting your Will to ensure your family are protected after your death.