53% of adults in the UK don’t have a will according to statistics from research carried out by Willaid.org. That’s over half the UK population of adults who have no control over what happens to their estate when they die. The best case scenario if you don’t have a will is that by accident the people you want to benefit qualify under the intestacy rules. The absolute worst case scenario is that everything goes to relatives you wouldn't wish to inherit from you or it goes to the state.
Complex family ties
In an age of complex family situations there are any number of problems that could arise as a result of not having a will. If you are separated but not divorced, for example, the intestacy rules will transfer the first £250,000 of your estate to your spouse, regardless of whether you have met a new partner or have an acrimonious relationship with your ex. Couples who are living together but are not married have no right to inherit under intestacy rules.
More than just assets
Perhaps one of the most often overlooked aspects of the necessity of making a will is what it allows you to do outside of the transfer of assets. For example, if you have children you can specify who should take on the role of their guardian in your will. The same goes for your wishes regarding your pets or other dependent relatives – if you don’t leave a will then there is no record of your wishes and no binding legal document that requires those wishes to be carried out. While many of us avoid the question of making a will because we don’t want to think about death, it can actually be an enormous relief to know that those you love will be taken care of when you go.
Make sure you leave your legacy
So, if you want to make sure that your descendants receive that family piano, or that your favourite charity is gifted their share, making a will is really important to ensure you control who gets what after you die.
To speak to a specialist solicitor regarding your will at either our Lancaster or Preston offices click here or call 01524 386500 to make an appointment.
Why Making a Will Makes a Difference
