Wills - Why Is a Will Important?

Everyone over 18 years old should have a valid Will in place, even if you do not believe you have much to leave. You could be rich or poor, single or married, male or female; everyone should have a Will in place to protect your property and your loved ones. The majority of people know they should have a Will drafted for themselves, but that majority never get round to making one. Around two thirds of the people in the United Kingdom die without having made a Will or leaving an invalid one. Not writing a Will can be all sorts of problems that could occur as well as financial problems or worries for your family or dependents after you are gone. If you pass away without leaving a Will, you cannot be sure that your property or money that you leave behind will pass on to the people you wish to inherit and go the way you wish it to go.

If you die without making a Will or leaving an invalid Will you will be referred to as an intestate and the intestacy rules will apply to the distribution of your estate. If you are married or in a civil partnership with children, it is stated in the intestacy rules that your partner will receive the first £250,000 of your estate plus a life interest in half of the remaining amount of your estate (known as the residue). Your children will then inherit the rest. This may mean that you cannot afford to stay in your home as you have not received the full amount of the estate as first thought. It is even worse for couples who are not married or in a civil partnership. This is because; their partner will automatically not be entitled to any of your estate unless it is specifically stated in a Will. A partner will only be able to inherit what is jointly owned by both parties. Everything else will go to the next of kin of the deceased.

A Will is also a good opportunity to appoint a guardian for any children, otherwise if you have not appointed a guardian in your Will, the courts will be the ones to decide who is the best person to bring up your children as well as a say in their future. This would not be something many parents would be happy about.

I am a legal writer covering advice on topics of law, for further text and similar works visit Wills or contact a solicitor today.

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