Too Young to Die? Will Writing Services in Bristol.
Law Society figures from 2014 identified that 73% of 16 – 54 year olds do not have a Will. When this age group was asked why not their reasons varied but included being ‘too young to die’, the cost of writing a Will, having nothing to leave or being ‘too busy’.
Source - Law Society
Do You Want Your Loved Ones to Inherit?
Despite the above, when questioned, most of those polled did indeed want their assets to go to specific individuals rather than to the government. Most of those polled also wanted to minimise the burden for their loved ones rather than leaving things in a terrible mess which would take a good deal of time and money to sort out.
Why is it Important to Plan for Death?
In the UK, there is a general lack of understanding of the importance of Wills and estate planning. Many people do not know what an Executor is, what Probate involves or the implications of dying intestate (dying without a Will). A Will is a mechanism which dictates who gets what when you die. It will also identify for parents who will look after their children in the event of the parent(s) passing away while their children are still young.
Even Celebrities Make This Mistake Too
Even celebrities, who we all imagine have lots of assets to take care of, fail to plan ahead when it comes to death. After Amy Winehouse died intestate, probate records revealed that her £3 million fortune left her ex-husband with nothing. Rik Mayall, who died in June 2014, despite a previous health scare, also died without a Will in place. His wife and three children faced an unnecessary inheritance tax bill which could have been avoided by the simple act of putting a Will into place.
And it’s Not Just the Money
Family arguments, bitterness and feuds can result from a lack of planning. Bob Marley had both adopted and biological children with several partners when he died on 11th May 1981. This $30 million estate was bitterly fought over resulting in long-lasting family feuds that could otherwise have been avoided by some simple forward thinking.
In the UK today, nearly one-third of families include a stepchild from a previous relationship. Complex family structures are common but have you considered how assets will be split between children who may or may not be part of your bloodline?
Tell Us Your Needs
At The Will Associates, our trained consultants in the Bristol area will discuss your current circumstances and needs in the privacy and comfort of your own home. We will recommend the best products for your individual situation ensuring maximum protection for you and your loved ones. Unfortunately, none of us are ‘too young to die’ so for peace of mind and to know your loved ones are protected call The Will Associates on 0800 847 7050 to arrange a free, no obligation appointment with of our highly-trained consultants at a time convenient to you and your loved ones, in the comfort of your own home.