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Did you know that only just over 40% people in England and Wales actually have a Will?
Considering what you would like to happen to your assets when you pass away can be a taboo subject for some and a difficult topic to think about, however making a Will is vital in ensuring that your assets pass to the people you want them to and can help make the process for your grieving loved ones easier.
Having a Will allows for everything you own to pass to who you want it to, rather than under the Government’s rules known as ‘intestacy’.
In particular, having a Will made by a solicitor can reduce potential for claims to be brought against your estate and mitigate fallings out between your family once you have passed away.
With house prices soaring, shifting trends towards multiple marriages and cohabitation, and people living longer bringing questions of mental capacity, there are an increasing number of reasons for people to contest an estate. Research by Direct Line shows that one in four of us would challenge an estate.
By having a Will prepared by a solicitor this can ensure that the Will is valid by being properly executed and witnessed correctly. It can also ensure that a person’s wishes are accurately reflected in the Will and in the event of a claim being brought by a family member or dependant, solicitor’s notes and files may provide evidence to counter claims.
Moreover, if legal claims are brought against an estate, the value of the estate could end up being absorbed in legal fees. It is therefore worth paying a solicitor for a Will to be prepared rather than risking thousands of pounds of fees defending claims.
It is therefore vital that a Will is made if you want to reduce fallings out and claims when you pass away.
George Green have a dedicated Private Client team with expertise in preparing Wills. If you would like more information about making a Will with us then please get in touch on 01384 410 410 and ask to speak to a member of our Private Client team where we will be happy to assist.