In your twenties or even thirties, making a Will isn’t necessarily a top priority. Many feel they’re too young, they don’t own enough, they don’t have any children yet or they can’t afford it. Furthermore, with the life expectancy of the average person in the UK at an all-time high, many think that a Will is something that you do when you are ‘old’.
It has been proven once again this week in research from the insurer and pension provider, Canada Life, finding that half of Britons do not have a Will in place.
It seems there are reasons not to make a Will, but unfortunately, there are more reasons to make one. More so, if you are co-habiting or you don’t wish for certain members of your family to inherit your assets. This doesn’t necessarily mean home ownership – there are many other items to consider, such as cars, pets and even photographs of travelling adventures with friends.
If you do not have a Will in place, the law will simply decide who inherits your possessions. The ‘rules of intestacy’ set out who inherits if there is no Will, so the people who matter most may end up with nothing. This can come as a bit of a shock, is incredibly sad and adds more upset to an already difficult time.
The best way to ensure that your assets are distributed as you wish is by having a properly drafted Will made. You can review it when those wishes change, or after any significant changes in your life.
For further advice, contact our team on 01792 468684 or email enquiries@pgmsolicitors.co.uk.
