Why do I need a Will?

Recent research shows that up to 60% of adults in the UK, around 30 million people, do not have a Will in place.

The main reasons people gave for not having a Will were:

• Do not believe they have assets to warrant making a will
• Haven’t thought about drafting one
• Does not consider it a priority as just too busy.

Let’s cover these in turn…..

I don’t have enough assets to warrant making a Will.

If you do not write a Will, any assets you do have, no matter the size, would pass according to the rules of intestacy. These are strict rules that must be followed by law and may not be in line with your wishes.

If you are co habiting with a partner and not married, if one partner were to pass away, the survivor would not inherit your estate without a Will in place.

If you have separated from your spouse but not divorced, they would still inherit if you did not have a Will in place.

And lastly, you could end up paying more inheritance tax without a Will in place as we can incorporate tax planning into your Will.

Haven’t thought about drafting one

No matter your age or personal circumstances, it’s always important to have a Will in place for the reasons mentioned above.

It is also important to note that if you have children, your Will is a only place where you can legally appoint guardians for them should anything happen to you. If you do not appoint guardians in a Will, it’s up to the courts to decide who would look after your children, which may not be in line with your wishes.

It’s not a priority and I’m too busy to draft one.

A will is a priority for every adult, no matter your age for the reasons mentioned above.

Here at Charlton Baker we are qualified Will writers and following a conversation with you, we can draft your Will in little as 30 minutes. Please contact us for more information.