Are you putting your family at risk because of an out of date Will?
Recent research from The Law Society revealed that a staggering 71% of 24 – 34 year olds in England & Wales do not have an up-to-date Will. This is worrying news for the families of people who’ve changed their circumstances recently, such as purchasing or selling a house, as it means that they may not receive what is entitled to them.
The research also revealed that 22% of respondents aged over 65 did not know if they had an up-to-date Will, which leaves their families in danger of receiving nothing after their death as respondents do not know about wills and probate.
Driving the need to change a Will are circumstances such as marriage; the birth of a child; divorce; and change of address. But of course these are busy times for the people involved and may result in the Will being overlooked. However, ignoring such an important document could have a long-lasting effect, so it’s crucial to seek advice as soon as possible. This will ensure that families and spouses are fully protected and their wishes adhered to.
Saul Marine, Probate Partner, said:
“The Law Society news doesn’t surprise me, but it may surprise some people to know that, depending on circumstances, it can often take as little as a couple of hours of time to draw up a Will, in return you will have protected your family/spouse in the long term and saved them further unnecessary grief after you die – a small price to pay”.
Drawing up a professionally prepared Will can cost very little, even less if it’s an amendment in the form of a Codicil. A Solicitor will have years of training, whereas Will Writers do not have any legal training. If things go wrong, Solicitors are regulated by the Law Society. Your Will can be safely stored in your Solicitor’s Office. Your Solicitor will ensure that there is clarity in your Will and can even deal with challenges post-death. Your Solicitor will ensure the signature and witnessing of the Will are dealt with properly, because if your Will does not follow these formalities, it will be worthless.