The New Year is often a time for reflection for many. This is especially true as we start a new decade. And whilst many may have chosen their new years resolutions, one we should all make is to make or update our will.
Shockingly, over 50% of Brits don’t have a will, which can cause distress and financial hardships for your loved ones left behind.
So as we leave one decade behind and look to the future, our specialist solicitor, John Moore answers how a solicitor helps you write or update your will, and why the New Year is a great time to do it
Talk us through the process of making a will and how a solicitor can help.
Firstly, making a will can be quite straightforward if using a solicitor! The solicitor will talk to you about your circumstances and ask you how you wish to distribute your money, property and possessions.
The solicitor will then prepare a draft for you to check you are happy with before arranging to sign it. Importantly, a solicitor ensures the will is drafted correctly, signed and witnessed properly to ensure its validity
What could happen to your estate if you die without a valid will in place?
If you die without a will the ‘rules of intestacy’ apply. Crucially, this may mean that your estate could go to someone you may not want it to. Alternatively, someone you intend to leave a portion of your estate to could lose out.
What are the risks of using a DIY wills kit or an unregulated service?
With DIY kits it is easy to make a mistake that makes your will unclear, or worse, completely invalid! Therefore, having a solicitor experienced in will writing provides peace of mind that your affairs will be taken care of.
Why is it important for everyone, no matter their age, to consider making or updating their will?
The unexpected can happen to all of us at any time so you are never too young to make a will. Our lives constantly change with new relationships, children or acquiring different assets.
Therefore, not only is it a good idea to have a will in the first place but to update it periodically based on these changes.
Why is the New Year a good time to make or update your will?
The New Year is often a time for reflection for many and a fresh start for the new year. It’s a good time to get a will ticked off your list of things to do!
How can we help?
The team at CJCH has over 35 years experience in wills drafting, tax and estate planning. Get in touch with a member of our team today.
Telephone: 0333 231 6405