The majority of adults in the UK don’t have a Will according to recent figures. With it being such an important thing, why is this the case? It may be because there are so many misconceptions around Wills.
Here are four common misconceptions that we have heard over the years...
My partner will just get everything anyway if I die without a Will
This is not necessarily the case! If you and your partner are married, this is a safe assumption to make, but even then may not be the case. If you’re not - no matter how long you’ve been together, or even if you live together - you partner may end up with nothing should something happen to you. You need a Will to ensure that your assets go to exactly who you want, including your partner/spouse!
Writing a Will takes so long, and it’s too complicated
It can seem daunting, and you may not know where to start when it comes to writing a Will. However, we can give you access to an incredibly useful resource called Willing Wisdom which provides you with your own personal Estate Planning checklist, making things so much easier for yourself and your loved ones - https://willingwisdom.com/willing-wisdom-index-uk-activation/?access=TWDGJ3F07MF
I’m too young to need a Will
So many young people put off making a Will because they think they don’t need one yet. The truth is, you’re never too young to make a Will! It’s especially important if you own a house, a pet, run a business or are thinking of starting a family.
I don’t need to do anything else once I’ve made my Will
If you’ve gotten married since making a Will, it may now be invalid so you need to write a new one as soon as possible. It’s also important to review your Will after big life events such as a baby, starting a business, buying a property or coming into possession of valuables. It’s also important to be aware that a divorce does not void your Will, so may you need to review your Will to ensure that your wishes will be carried out.