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Writing a Will and why is it so important

Writing a Will and why is it so importantAround 1 in 3 people die each year without having written a Will, protecting their assets for the family they leave behind. This can bring additional stress and anxiety to an already difficult time. It makes the situation rather complex, as there is no clear guidance to follow regarding the distribution of your assets. Around 1 in 3 people die each year without having written a Will, protecting their assets for the family they leave behind. This can bring additional stress and anxiety to an already difficult time. It makes the situation rather complex, as there is no clear guidance to follow regarding the distribution of your assets. 

You are never too young to write a Will, especially if you have dependants who rely on you. 

Around 70% of people in the UK under the age of 64 have not written their will. It is so important to ensure that you have a legal will in place. It can have significant consequences to your bereaved family if you have failed to look into Will writing. It can be the case that they may have to apply to court in order to gain access to your assets to cover funeral costs, mortgages and any other expenses that might occur, which is not a quick and straightforward process.

You can write a Will that is as detailed or as simple as you like. You will just need to ensure that a Solicitor confirms that it is legally binding. 

Your Will really should be a working document, as you circumstances change, so might your Will. If you get married, have children, acquire more assets you may wish to amend your will to make sure that all of these factors are also included.

If you die before writing a Will (dying intestate), it will be a much longer process for your family and beneficiaries to inherit your assets. The UK law will determine who inherits your assets and this may not result in what you would have wished. 

Accounting for your wishes by writing a Will, ensuring it is kept safe and letting your loved ones know where it is being kept is the best thing that you can do. It will make things much more straightforward after your passing, leaving your family to concentrate on celebrating your life, rather than worrying about how your funeral will be paid for.

Find out how to begin will planning here

It is often not an easy subject to address, but if you would like further information and advice about will writing, our knowledgeable and experienced financial advisors are here to help. Contact us on 01608 651608 or via our enquiry form and we will be happy to discuss your requirements.

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