There are millions of adults in the UK who don’t currently have a will. In fact, over half of UK adults are yet to write one. That statistic is quite shocking, but seeing as though ‘death’ is somewhat of a taboo, or a topic of conversation we often avoid in the average UK household, it may not come as a surprise to many.
It’s extremely important you make a will. Many people are under the impression that creating a will is very expensive, or not entirely necessary – when actually, it’s incredibly essential.
We’ve found an insightful, interactive webpage which highlights some common reasons why people don’t make wills.
Here’s some common excuses for not wanting to write a will;
4. “It’s too expensive” – there’s never a good time to spend money, but setting up a will can save your loved ones thousands in taxes and legal costs. In addition, setting up a will is relatively inexpensive – unless you have a particular complicated situation with overseas assets etc.
5. “I don’t have anything to leave” – what you have may be worth a lot more than you think, in either a monetary or sentimental sense. Whatever your financial situation is now, that could also change in the future.
Another way to look at the issue of making a will, is examine what impact NOT making one can have. For example, if you are not married to your partner, if you haven’t written a will, it is unlikely that he or she will receive anything. Not having a will could also lead to family disputes, and the legal and tax costs could amount to thousands. Finally, if you die without a will, your estate could be divided according to intestacy rules – which again could cause problems within the family.
The main reason for making a will is so that your loved ones do not have to deal with financial and legal issues whilst they are grieving the loss of a family member. There’s no better time than the present to make enquiries and get one put in place. You can contact specific Will Writers, or even create a DIY will. However, for complete peace of mind, we would normally recommend contacting a local solicitor, as they are regulated for the legal ombudsman, and will ensure that the will is compliant from a legal point of view.
Originally posted 2015-11-19 11:08:09. Republished by Blog Post Promoter