Making a Will
You cannot afford to put off making a Will.
If you are one of the 57% of all UK adults who have not drawn up a Will, you would die “intestate”. Members of your family who you had not seen for years or who you may no longer get on with, could take a substantial part of your assets. They would also be legally entitled to wind up your estate. And conversely, close relatives or those who you do get on with could lose out on property that should have been passed on to them.
A further estimated 19% of UK adults have had a substantial change in circumstances since drawing up their original Will – but have taken no action to update it.
Dying without a Will can cause serious problems – and unwanted stress – for your surviving relatives.
Co-habiting couples who could see their home sold against their wishes if both names are not on the title deeds.
No matter what your marital status, you could stand to lose out. Legally, a surviving spouse has no automatic right under current UK law to inherit all their spouse’s property. Additionally, If a Will is not updated after a separation or second marriage, the family home could automatically pass to the ex-husband or wife leaving the current partner and children with no automatic right to reside at the property.
Honouring your wishes
Perhaps you want to make remember a particular friend or relative in your Will? For example a gift of some money to a grandchild? You may want to set out your funeral wishes? All this can easily be done providing you have a valid Will in place.
In that Will you can clearly set out who you want to inherit your property and assets and who you wish to sort matters out on your behalf. You then need to have your Will checked every few years or if there is a major change in personal circumstances.
How to make a Will
Our highly experienced Wills team make writing or reviewing a will a straightforward process. Our team will work with you to assess the current and future situation of yourself and your family and prepare a Will that is designed to cover every eventuality.
To find out more about Wills and how FDR can help, contact us.
