Why you need a will

No one likes to talk about it and that’s completely understandable.

It’s natural to feel worried thinking about the topic of death, funerals and wills. However it’s prudent to overcome your fears and make the responsible choice to sort your affairs sooner rather than later. You might find that having support to complete your will can ensure you more comfortably manage this process. So, speak to us for help or read on to find out why you need a will in place.

What happens if you die without a will?

If you don’t have a will in the UK the intestacy rules apply, (please note: any foreign interests could complicate matters) 

Here is what that means in practice:

• Your partner or spouse do not automatically inherit your entire estate.
• Unmarried partners have no rights under the current rules.
• Biological offspring are treated differently than an adopted child.
• Minor children might struggle in the interim as their share is held in trust.
• If your immediate family cannot be located the Crown may be entitled to your estate.
• Your estate could pass to estranged family members.
• There are no clauses for pets, friends or charity gifts.
• Without using a solicitor, you may pay more tax than you need to.
• If you’re not legally divorced, your ex-partner could still inherit.
• If you have a smaller estate, your spouse may receive it all, leaving nothing for your kids.

In short, the impact of not having a will is that your wishes won’t be followed. There are no legal provisions under the intestacy rules for an unmarried partner and your children could be treated unequally or experience a dip in their quality of life while they wait for their trust to mature. Plus, if you have less than £322,000 in your estate, it will be up to your spouse to decide how to invest it and provide for your family. The  estate might also suffer from higher taxes simply because you didn’t seek advice from a solicitor.

Making a will is easy, affordable and fast. Even with the help of a qualified Wilkinson Woodward solicitor, the fees are modest and you’ll have the peace of mind that comes with knowing your wishes will be followed and everyone you love is provided for. Even if your family is financially comfortable without an inheritance, your favourite charity, best friend, pet or organisation would likely benefit greatly from a gift. However, making that request clear in your will is the only way to ensure this happens.

Can I write a will myself?

It’s not advised. You don’t have to use a solicitor but Citizens Advice explains, “If someone makes a will but it is not legally valid, the rules of intestacy decide how the estate will be shared out, not the wishes expressed in the will.” anyone wishing to contest that outcome could spend significant sums in legal fees... Your family might have to go through a long, arduous and expensive legal battle to try and get access to the funds and assets that your will could have left to them. A solicitor can help ensure you’ve got the right wording so that there is no confusion around your wishes or expensive, unnecessary tax burdens.

For even more information on wills, click here or if you’re ready to make your wishes known, please reach out to our helpful team today. Our team of experienced legal professionals will prepare a will that is bespoke, understandable and enforceable.