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The importance of having a Will

02 August 2022

Lauren Smith

Joint Head of Wills, Probate & Trusts, Laure Smith explains 'the importance of having a Will'

A Will is so important, we can't emphasize this enough. Essentially anybody needs a will, anybody who's over the age of 18 and starting to get assets.

Most people start to look at making a Will when they're in their early 20s because they'll buy their first house, move in with somebody or even have a car. The simplest form of an asset, such as owning a car, means that you've got something to leave someone when you die. Be it money in a bank account or even things like life insurance, they are all assets. It's really important to make sure that you put something in place as soon as you start to get assets.

As well as that, people who've got young children should always think about making a Will so they can name a Guardian to provide for what would happen in the event of their death and who would raise that child.

What happens if I don’t have a Will upon my death?

If you don't have a Will there's a strict legal order as to who will receive your assets. However, that might not necessarily be who you want and it might not take into account some of the assets that you have.

Some of the biggest problems with the intestacy rules are that they don't recognize cohabitees, they don’t make any provision for specific gifts, they don’t make provisions for funeral wishes and things like that.

It can cause a lot more problems for the people that are left behind if you don't have a will setting out exactly what you want to happen and how.

Here is a video recorded by our Joint Head of Wills, Probate & Trusts, Lauren Smith:

Our Wills, Probate & Trusts team are experts in drafting Will.

If you have any questions or queries with anything regarding a Will, then our team can be reached by calling 01302 341 414 or by filling out our online enquiry form!

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