Tags: Private Client
Recent research by the Law Society showed that over 50% of British adults don’t have a will.
Many people feel that they do not need a will, either because they feel they have little, if anything, to leave, or because they believe that their assets will go automatically to their family. Unfortunately, this is not always the case, and even if you don’t have much to leave, leaving a will can make life much easier for the people you leave behind.
Did you know, for instance, that if you don’t leave a will, and don’t have close family, that your estate could end up passing to the government? In 2013, over £8M went to the government as a result of people not leaving wills.
Nearly a quarter of those surveyed for the Law Society’s research wrongly believed that their possessions would automatically go to their family if they died without making a will. As families become more complex, however, this is not always the case.
Making a will need not be expensive or frightening. It can be a great comfort to the people you love to know that they are following your wishes in dealing with your assets, and having a will means that you can chose what you want to happen to your possessions when you are gone.
FDC Law Partner Darrell Collins explains “People are often reluctant to think about making a will, as they don’t like to think about the possibility of dying, but it is a very positive and caring thing to do, to ensure that the people you love are looked after when you are gone” she continues “we can also help with advice about tax, care fees planning and estate planning, to help ensure that your estate doesn’t pay unnecessary tax , and that your possessions are passed to the people or organisations you wish to benefit.”
Andrew Caplan, President of the Law Society, said, “Dying intestate not only means your final wishes will probably go unheeded, but the financial and emotional mess is left for your loved ones to sort out. This need not be your final legacy. Making a will is usually a very simple process but we urge people to use a qualified, insured solicitor because he or she will be able to spot the nuances that could lead to trouble later on if not properly addressed.”
Here at FDC Law, our experienced Private Client lawyers can help you ensure that you don’t leave that legacy of uncertainty or distress to your family. Contact our Private Client department for friendly, expert advice to help you make your will. If you do already have a will, it is sensible to consider whether it should be updated to reflect any changes in your circumstances or family life.
Darrell Collins comments “At the end of a will meeting nearly every client says ‘That was easier than I thought. I feel a lot better now’. It really is easier than you think.”