Making a will is certainly not an exciting prospect, nor one that any of us would really like to entertain. To sit down and arrange matters after your death is to ponder death itself, something we would all like to avoid if possible. However, for anyone with children, money, or anything of value in their life, this process is essential to the happiness of the people you love, in a time when they will be at their most vulnerable.
Why make a will?
Making a will is often quite a morbid proposition and is rarely considered until people approach their late 40’s. This could account for why around two thirds of people in the UK will leave this earth without legally detailing there wishes after death. As unappetising as it might seem, making a will is one of the most essential things that any adult should do and can have major repercussions on emotions between a families or loved ones.
For starters, if you don’t have a will in place when you do kick the bucket, all of your worldly possessions will be divided up after consultation with the Law of Intestacy. This can have drastic repercussions in any many of ways. For example, this law favours close relatives more than anything, so even if you have had a loving relationship with your partner of 20 years, in the event that you are not married your fortune could well be passed on to an estranged sister, of whom you hardly spoke.
This situation is frightfully common and often results in a strained legal battle that takes it toll on both parties. The worst-case scenario is that you die leaving behind no close relatives, in which case your possessions and remaining money are deemed property of the Crown, no matter how influential a friend or loved one had been in your life.
Making a will is not just for the purpose of the dispersion of money and possessions.
For more information on:
- Last requests
- Writing a will
- Changing a will
- Changing a will after death