10 reasons people do not make Wills.

Most adults know that they should have a Will in place, however the thought is often put off when life gets in the way. Will Aid conducted a research revealing that 53% of adults in the UK do not have a Will. But why do people put off making a Will? Here are ten common reasons:

1. I haven’t got round to it

This is probably the most common reason. Making a Will is one of those tasks that remains on people’s ‘to do’ lists for a very long time while other, more urgent matters, push it at the bottom of the list. However, circumstances in a person’s life can change drastically and suddenly, and many people pass away without a Will in place. This could leave problems for the people left behind, and could mean that some loved ones may not inherit.

2. I am too young to need to have a Will

Generally people think that writing a Will is something to do later in life, possibly after having children or after a big change in circumstances. Every adult person can make a Will, which will apply to what that person owns at the time of death, not when the Will is made. In addition, many young cohabiting couples may not be aware that “common law marriage” does not exist, and that, without a Will, the surviving partner will not be entitled to inherit.

3. Everything will automatically go to my partner

This is incorrect, as everything will be inherited in accordance with the Intestacy Rules laid down by the government. Spouses do not automatically inherit everything and couples who are not married or in a civil partnership will not inherit anything at all from each other. If you are separated, but not yet divorced and you are in a new relationship, your ex-spouse or ex-civil partner will be one of your beneficiaries, and not the new partner. Finally, you may want to think about who else should inherit if your partner was to die before you.

4. I’m not wealthy, so why would I need to make a Will

A Will is not just a document that deals with the division of wealth. Even if you live very modestly, a Will applies to anything that you own, including personal possessions, sentimental items, your car and pets. A Will can also include funeral wishes and the appointment of guardians for minor children.

5. Writing a Will is expensive

The cost of a Will is not so expensive if you balance the clarity that it will bring and the importance it has. A professionally drawn Will is tailored to the personal circumstances of each person, and can consider different scenarios in the future, so that the Will may not need frequent updates. Also, professionals can assist in the preparation tax efficient Wills.

6. I don’t have any family to inherit from me

It is very important in these circumstances to make a Will, as you can leave what you own to friends or charities. If you do not make these decisions, the Intestacy Rules apply, and your friends and loved ones will not inherit.

7. I don’t like to think or talk about death

Many people feel uncomfortable talking about death with their family, however, it is inevitable. Making a Will is usually a quick process, and most people feel relieved after sorting it out.

8. I’ll make a Will when I need to

Delaying making a Will until it is urgent might have severe repercussions. To make a Will, it is necessary to have mental capacity, and a Will can be contested on the basis that the person making it lacked capacity at the time. In addition preparing an urgent Will can be much more stressful and more expensive than a regular Will.

9. My family is complicated – it is too stressful to think about it

If you have complex family circumstances, then you have all the more reason to set out your wishes ahead of time and potentially avoid arguments and even expensive litigation. If you die without a Will, the Intestacy Rules will apply and the people you care about may left out of your estate.

10. I know I should have a Will, but I don’t really know why

Hopefully the content of this article will have answered this question, but to summarise, a Will provides clarity, you choose who will inherit what you own, who will be your children’s guardians, it can help avoid future disputes, and gives you peace of mind.

At Pearson Hards, we have extensive experience of helping clients with this complex area of law. For more information, please contact Flavia Mongiello on fmongiello@pearsonhards.co.uk or by calling us on 020 8949 9500.