Are you one of the 70%?Smart Will
Are you one of the 70%?
Many people feel that writing a Will doesn’t apply to them as they are either too young, not rich enough or have little possessions they can pass to family or friends after they pass. The truth is, this is not the case.
70% of adults in the UK do not have a valid Will in place, this can cause your family lots of problems at an already stress full time.
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Here are 5 reasons you need to write your online Will today.
- Lengthy probate.
Probate, ‘ The official proving of a Will’.
When somebody dies, before family members can deal with the financial affairs of the deceased, such as bank accounts, savings accounts, selling property, releasing pensions, closing accounts or any debts. Family members are required to apply for probate before the can be a named executor to allow them to deal with the estate administration. Having a valid Will in place can make things much easier and saves your family from lengthy probate applications and lots of other unnecessary stress.
By appointing executors to deal with your estate, no matter the size, it makes things much easier. Testators ( The person writing the Will) can even nominate professional executors to assist with the administration of the estate if they wish.
- Your children
If you’re a single parent and die without a Will, there is a chance any minors will be taken into social care until checks have been carried out on the family members they could live with. Having a will in place, you can appoint guardians and substitute guardians to avoid this.
- Avoiding disputes.
By having a valid Will in place, you can rest assured knowing that when you are gone, your family will not be disputing over things like the shares of a house sale, maybe some stocks & shares or a pension. At such an emotionally stressful time for family members, having a Will in place can help avoid this.
- Leaving gifts and residue.
Testators can leave gifts of possession, gifts of money, or gifts of money to charity. Without stating who gets what in your Will, your estate is distributed by the rules of intestacy and this is never usually the way you would have wanted.
- Who knows what tomorrow will bring?
These reasons alone should be enough for you to understand why you need a valid Will in place.