You know the Will that you always planned to make? What about the old Will that you intend to update but have not got round to yet? Well, now is the time to get your house in order, especially if you want to reduce the chances of disputes, disappointment and discord after your death.
Less than a third of the adult population has written a Will and over 300,000 people die without a Will (intestate) each year.? In 2010, the Government gained more than 53 million pounds from people who died intestate. Of the third of those that have made wills, how many reflect their current wishes? Family circumstances do change and wills should change with them. There are few of us that would still want an ex-wife or an ex-husband to be the main beneficiary of our estates despite having been married to our new partner for 20 years, yet it can and does happen.
- Barry White died intestate in July 2003 at the age of 58. He did not make a Will and following his death a bitter battle followed between his widow and his girlfriend. Barry had not divorced his wife although they had been separated for two years. He had a daughter with his new girlfriend but the entirety of his multimillion dollar estate was left to his spouse under the rules of intestacy .
- After Amy Winehouse died in intestate, probate records revealed that her 3 million fortune went to her parents, leaving ex-husband Blake Fielder-Civil with nothing .
Making plans for after you are gone is never going to be the cheeriest of tasks but making a will does not mean you are about to die. It is simply recording your wishes, in accordance with the rules set down by the law, to ensure that your assets are received by the ones you intend.
DIY wills (for example those that are self-written, templates from shops and the internet) can also cause problems.? For example, if you do not fill out the forms correctly you may inadvertently leave out members of your family or perhaps invalidate your will altogether.If in doubt, seek professional advice.Making a Will does not have to be expensive and should be a painless experience with the right guidance.