Since the first lockdown of COVID-19, it has become apparent that there are many people who do not have a Will, or have even considered a Will.
The Law Society took a survey which stated,
“that well over half (59%) of those surveyed said they did not have a will…The main reasons respondents gave for not making a will were not having anything of value to leave to their loved ones (24%), not finding the time to make a will (20%) and thinking they were too young to make a will (18%)”.
By not making a Will, it is known as dying intestate.
Intestacy means that your estate will follow a statutory order which does not include partners or cohabitees. Therefore, your monies may not go to your loved ones when you pass away.
The priority of who shall inherit your estate through the intestacy rules are as follows:
(a) the surviving husband or wife,
(b) the children of the deceased,
(c) the father and mother of the deceased,
(d) brothers and sisters,
(e) half brothers and sisters,
(g) uncles and aunts;
As you can see within the above list, there are people who cannot inherit under the intestacy rules such as:
– Unmarried partners,
– Same sex couples who are not in a civil partnerships,- Relations by marriage,
– Close friends;
Therefore, if you wish to make gifts to your loved ones and know for certain that your wishes would be followed, it is advisable that you make a Will.
We at PRS offer many ways in which we can take your Will instructions, by either video call, telephone or office visits, this makes it easier for our clients to protect their families and loved ones for the future.