When we are young a will is not something that necessarily comes into consideration when planning our finances, and even when we have made one, there is a tendency to forget that it should be updated to take into account changes that occur as we get older.
The death of someone close to you is a traumatic event under almost any circumstances, but if they died intestate, there is a chance that the trauma already there will be greatly exacerbated. How you may ask?
It is NOT necessarily the case that on death an estate automatically passes to the surviving spouse in its' entirety where there is no will.
If a husband or wife dies intestate, that is without having made a will, their estate will be subject to the laws of intestacy, and dependent on its value, it may be that the surviving spouse will end up with only part of the estate that they believed was theirs, the remainder going to other relatives.
The situation is even worse if you are unmarried, not in a civil partnership, close friends, relations by marriage or a carer, where you have no right to inherit without a will being in place. It may be that you can apply to court for financial provision from the estate in these circumstances.
Making a will does not have to be expensive, but it should be in place to protect those that are left, and to make sure that your assets go to the people that you want them to.
Whilst you are considering making a Will, you may also want to consider whether a Power of Attorney is appropriate and discuss this with your solicitor or legal practitioner. If you become either mentally incapacitated or unable to deal with affairs due to ill health or an accident, it may prove extremely beneficial to have one of these in place. There are two types, Health & Welfare and Property & Financial. The government site www.gov.uk/power-of-attorney/overview will give you more information
Although we don't make wills or advise clients on how the wills should be made up or worded we do have contacts that we can put you in touch with. Complete the CONTACT form below or call us and we will put you in touch with people who can make the difference to you.