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A New Year. Time to make a new Will.
21 January, 2019 3 minutes reading time
Thinking about a new Will? Many consider making changes at the start of a new year, planning for a better future. Yet, surprisingly, few have taken this crucial step to protect themselves and their families.
Be Prepared
Over half of UK adults don’t have a Will, leaving over 30 million unprepared for death—whether unexpected or not—and potentially creating uncertainty for their families.
Making a Will is relatively straightforward and benefits those you care about most, ensuring your assets go where you intend, not to the state or estranged family members. People avoid making Wills for various reasons: “I’m too young,” “I don’t own enough,” or “It’s too expensive.”
Others mistakenly assume their spouse will automatically inherit everything or that long-term cohabitation guarantees inheritance rights. Unfortunately, these assumptions are often incorrect.
Avoid Potential Disputes
Disputes over estates and Wills are becoming more and more common as modern life gets more and more complex, especially where ‘mixed’ families are concerned. Complicated domestic circumstances, divorce and further expanded family trees all contribute to arguments and legal battles after people die.
One of the most common grounds for a Will dispute under the Inheritance (Provision for Family and Dependants) Act 1975 is that there isn’t a Will. The only way to guarantee your wishes are carried out is to draw up a professional Will.
Anyone can draw up a Will anytime, so this new year is the perfect time to start. But it’s essential to do the job right. The rules around the creation of Wills are stringent. Mistakes made on Wills can be severe and even render the document invalid.
For example, Wills have been successfully contested because they have been signed incorrectly (in the wrong place) or have been subject to the wrong process by Witnesses or the Willmaker. In determining what ‘signing’ means, courts can determine a Will invalid even when it has been filled out correctly.
Professional Advice Can Help
It might seem like an unnecessary additional cost, but it is crucial to seek the services of a qualified, experienced lawyer when drawing up your Will. Professional advice will ensure your Will is written in clear legal language. The language used will be appropriate so your wishes can be effectively carried out. Working with a professional reduces the risk of disputes to a minimum.
Remember, too, circumstances change. So you must keep your Will up-to-date. For example, in the case of a divorce, a Will that has not been updated might still leave everything to your ex-spouse and not include your new partner or any children from your new relationship.
Don’t worry; it doesn’t need to be complicated, stressful or overly costly. Sorting your affairs out now saves time and money in the long run.
If you have any questions or need additional information, please contact us. We’re very happy to help.
Please note that all views, comments or opinions expressed are for information only and do not constitute and should not be interpreted as being comprehensive or as giving legal advice. No one should seek to rely or act upon, or refrain from acting upon, the views, comments or opinions expressed herein without first obtaining specialist, professional or independent advice. While every effort has been made to ensure accuracy, Curtis Parkinson cannot be held liable for any errors, omissions or inaccuracies.