We are obviously advocates of estate planning. We run a Will Writing business after all so you know our advice is more likely to be ‘you need a Will’ rather than the opposite. BUT… and here is the thing; we will only provide what we believe to be the correct advice. If that advice is that you’ve brought us a Will to review and we think that the Will is fine, we’ll tell you that.

The key thing is that you took time to get advice. What breaks our heart is when someone comes to us and tells us that they’ve lost a loved one and it turns out that there was no Will. In those circumstances, it’s called an intestacy and the estate passes in accordance with government rules. Less than ideal.

So, this article is about 3 reasons doing nothing is a bad idea.

Reason 1:

Imagine this. A married couple don’t have Wills. They have one child and a modest estate. The husband passes away and the wife inherits everything (depending on the size of the estate). After a period of mourning, the widow remarries. The estate is still relatively modest and eventually the wife (widow) passes away. Her estate then passes to her new husband. The first husbands child has effectively been disinherited (won’t get anything), all because there was no Will. Not what the husband would have wanted.

Reason 2:

Imagine this. You’re unmarried but you live with your partner. You have done for a number of years. They moved in to your house but you had no intention to marry. You have a shared bank account but that’s it. You have some family but no-one close. You pass away without a Will. Your estate passes to your family (defined by the rules of intestacy) and your partner inherits nothing. Worse still, they lose their home.

Reason 3:

Imagine this. You are married and happy with life except for one thing. Your partner has an addiction to alcohol and likes to gamble. You control all the finances to stop them from spending the bills money and savings. You don’t have a Will and pass away suddenly. All of your estate passes to your partner. They start drinking more to numb the pain and they gamble more. All of your hard work and savings are gone. The mortgage isn’t paid. The house is at threat.

These 3 simple scenarios are more common than you think. All of these can be prevented by speaking to a professional and putting the right plans in place. Wills are more than just a document which says what you’d like to happen to your estate. They represent and provide certainty for loved ones, they’re protection for loved ones. They show you care.

If you have a Will, make sure it’s kept up to date. If you don’t have a Will, book an appointment. www.slswillsandmore.co.uk