Have you ticked “Will” off your To-Do list yet?
Make a will
A clear and concise will, or the lack of one has formed the basis of many a fascinating story line. From Dickens to television dramas, wills can expose family tensions but they are an essential and effective way for loved ones to inherit assets.
A recent case in England this month highlights the difficulties and potential pitfalls of writing a will and ensuring that our true wishes are carried out after we’re gone.
Judge Nigel Price had “no hesitation” in declaring the will of Mr Marcel Chu invalid after his carer guided the pen of the millionaire as he signed over almost 40% of his wealth to the carer’s family just two days before he died.
This may seem like an exceptional case, worthy of a television drama but recent evidence suggests that up to 1 in 5 wills in the UK may have grounds to be declared legally invalid.
Claimants often cite a variety of reasons why a document doesn’t fulfill the technical requirements from undue influence to mental incapacitation.
In an age of complex family relationships and intricate financial arrangements it is more important than ever that your wishes are made clear. A will must be updated to mirror changing family and financial circumstances so as to avoid any confusion.
Being open about your will can also help to prepare children or other beneficiaries about what your wishes are for the future.
The good thing about taking the time and energy to ensure a will is properly written, is that once it is signed and dated, you can breathe a sigh of relief safe in the knowledge your loved ones are protected. Where there’s a will…
If you would like more advice on writing a will call us on 02890329801. We are only too happy to help you get it ticked off that never ending list!