How important is your Will?
It’s the run up to Christmas and most of you will hopefully be full of the festive spirit and let’s be honest, writing your Will is probably the last thing on your mind at the moment and I’m certainly not suggesting that they make great Christmas presents either, although it may be one step better than a last minute panic buy at the local service station.
One question we get asked a lot is “What happens if I don’t have a Will”? In short, you place yourself in a position of having no say in what happens to your estate and leave your family open to the
process of intestacy. There is no legal requirement to have a Will and surprisingly just over 50% of the adult population in the UK don’t currently have any provision in place. Depending on your
circumstances, you may feel there is little reason to spend a few hundred pounds in getting something drawn up and under the current economic situation, many of you may choose to use that
money on heating your homes rather than writing out your legacy. It’s all about choice, what you feel is important and whether or not you are happy to let others make those decisions for you once
you have gone.
There are numerous things to consider when it comes to assets, pensions, savings and belongings too. Dying intestate means that someone else has to pick up the pieces, whether that’s a partner,
your children or a close friend. If you haven’t expressed your wishes or how you would like your estate to be divided it up, it falls on those left, to make those decisions for you.
Ultimately there are many benefits to producing a Will and very few negatives.
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