HOW CAN I PROVIDE FOR MY FAMILY WHEN I AM GONE?
The question above is one that we should all be asking ourselves. Whilst naturally, none of us wish to contemplate the fact that we are not going to be here forever, it is essential that we give some serious thought to how we can all best protect and provide for our loved ones, on the event of our death.
Interestingly, there are statistics that show 7 out of 10 adults in the UK have not made a Will and the majority have not reviewed their Will within the last 2 years. Some of the Wills already made may now be out of date following a divorce or marriage/remarriage, or a civil partnership and validity questionable.
Source of statistics can be found here: http://www.lawsociety.org.uk/news/press-releases/millions-of-britons-have-no-will/
Reasons for making a Will should be obvious, the following are some of the important questions (amongst others) that we should all be thinking about:
- Have I safeguarded the future care of my children by appointing a testamentary guardian for them?
- Have I made it clear in my Will as to whom I wish to leave my belongings and assets?
- Are my family aware of my funeral wishes?
By not making a Will, and keeping it under review, you can run the following risks:
- The property we own may pass to those who we may not wish to benefit
- Long term unmarried partners could receive nothing after our death there could be a risk of them becoming homeless
- Children from previous marriages/relationships may not benefit from your estate
- The Local Authority may have to get involved in making decisions regarding your children and their care until they reach the age of 18
- Recent additions to your extended family such as grandchildren and great-grandchildren may receive anything from your estate with a Will in place
In some cases you may require a more complex Will, particularly where there is a property to be protected. Our local Will Consultant will be happy to discuss your future personal requirements and the potential costs with you.
Call The Will Associates today on 0800 9500 700 to arrange an appointment with one of our consultants, at a time convenient for you and in the comfort of your own home.