Pitfalls of Not Having a Will
Currently somewhere in the region of 70% of people in the UK have yet to make a Will.
Its likely that a large proportion of these have at some stage given some thought to Will Writing and then put it to the back of there minds, often feeling that the process of making a Will is both lengthy and complicated.
Nowadays this does not have to be the case, at Mind At Rest Wills we go to great lengths to ensure our clients receive all the information they need in simple terms, explaining the process from beginning to end.
Cost is sometimes another factor that puts people off making a Will, however this should not be a barrier because, at the time of writing this article, a professional Will Writer can usually provide a basic single Will Writing service, including provision of draft Will prior to final documents and an attestation (Will signing & Witnessing Appointment) for as Little as £110.
Ultimately the only way to ensure you don’t die Intestate is to make a Will, by doing so you can avoid the following pitfalls.
Potential Pitfalls If You Don’t Make A Will
- Minor children being taken into local authority care (even if this is just a temporary measure)
- Your spouse not inheriting your entire estate
- An unmarried partner receiving no share of your estate
- Somebody you would not have wanted to benefit from your estate receiving a share of it
- Your estate going to HMRC
- The forced sale of the family home
- Creditors or bankruptcy could swallow up your child’s inheritance
- If your spouse remarries after you die your children may not get all of their intended inheritance
Making a Will is one of the most important tasks that you are likely to undertake in life. Not doing so could affect future generations to come.
Whilst initially it may seem a daunting task, with the help of a professional Will Writing and Estate Planning Consultant, it can be very straightforward.