Wills by their nature are something that are often associated with the elderly, and not a lot of people tend to think about them or even know how to go about obtaining a will.  In fact, an enormous 59% of the UK adult population do not have a Will, or their Will is invalid or out of date.

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Many people are of the belief that if they die without making a Will, any assets they own including property, money and any savings will automatically go to their spouse and children.  Unfortunately, this is simply not the case.

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Making a Will is the only way to ensure that your wishes are carried out after your death.  If you have not made a valid Will, your property will pass according to the laws of Intestacy, which sets out a hierarchy of distribution of an estate where a person dies without a valid Will.  This may not be what you would have wished.  With even more families today comprising of parents who are not married to each other, it is so important that they ensure they have a valid Will, as should one of the parents die, their partner may not inherit anything under the current laws.  The old addage of being a Common Law Wife or Husband is a myth and bears no weight under UK law.

 

In any event, for any adult who dies without a valid Will, finalising their estate is likely to take much longer, and the estate may not be distributed how they would have wished.   During this time their beneficiaries may not be able to draw any money from their estate.  It can lead to arguments and distress on top of having to deal with loss at a very difficult time.

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You will need a Will if you are over 18 and:

• single

• married

• a parent

• retired

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