A large supermarket recently carried out a survey which indicated that 91% of us think about our mortality regularly and a third of us speculate on our own death at least once a week.
But whilst some of us clearly do think about life after death, the majority don’t have a Will. The reluctance to plan for death could leave those you care about most in an exposed position at a time when they are already vulnerable.
Obtaining advice in relation to your Will might not be as expensive as you first think and may even put your mind as ease. Your Will is very likely to be the single most important document to take effect on your death so it is certainly worth giving some thought to it. Your Will can dictate:
- to whom your estate (i.e. what you own when die after debts and funeral have been paid for) should pass (is it your spouse, partner, your children, a charity or perhaps a mix?);
- who takes responsibility for any children you may have who are under the age of 18;
- who should live in your house when you have died or whether it should be sold; and
- who takes ultimate responsibility for ensuring that what you own when you die passes in accordance with your Will.
If you die without a valid Will in place, the intestacy rules will apply and it is those rules which dictate who inherits your estate, regardless of your wishes. To ensure your assets pass in the way that you wish, the best way to achieve this is to put a valid Will in place. Then all you have to do is to remember to keep it up to date!
For more information, or some preliminary, confidential advice contact Joan Pullin, Solicitor in our Private Client team on 01297 21612 or email firstname.lastname@example.org.