We’re proud to support Update your Will Week 2024
This week is Update your Will Week (4th – 10th March 2024), an annual campaign hosted by The Association of Lifetime Lawyers.
It aims to raise awareness around the risks of not having an up to date Will and encourages people to update their Will to ensure their wishes are carried out when they die.
Why do I need a Will?
Simply put, your Will is a legal document with your clearly written instructions on what should happen to your estate after you die – this means you get the final say on what happens.
If you die without a Will in place, the law on inheritance (known as Intestate succession law) will determine who inherits your estate. This may mean that your children, property and finances are not looked after according to your wishes. This can cause conflicts in families and may put loved ones already dealing with a devastating loss into even more stressful situations.
If you do not have a Will, your unmarried partner will not inherit from your estate without a court granting them a share in your estate. This can be an expensive process just to get what you would have given if you had made a Will. It may mean your pets are placed in temporary care or foster homes.
Who can write a Will?
Anyone over the age of eighteen and who is mentally capable can write a Will. Yet, more than half of people over eighteen in the UK do not have a Will.
How often should I update my Will?
We recommend that your Will is reviewed and updated every five years, or when a major changes occurs that impacts you or your loved ones. For example, a marriage, divorce, a new birth, or a death in your family.
Why can’t my loved ones arrange my affairs?
Although you may have excellent relations with your family and friends, after your death, relationships with each other may become strained. Managing your affairs will not determine who gets to inherit. Without a Will, the law determines who inherits and the order may not include those closest to you if they are lower down the hierarchy for inheritance.
A Will helps to avoid disagreements which may arise over who receives certain possessions, by detailing exactly what happens with your assets. If you do not have a Will in place, your estate will be divided according to intestacy rules rather than your wishes.
If you have a partner and children but are not married, the law may look to appoint guardians for your children that may not reflect your wishes. Also, if you are not married to your partner, they may not inherit the home you both shared unless they go through the court process and this can be very difficult for them.
How we can help
At Osborne Morris & Morgan, we have experience in helping a wide range of individuals arrange their affairs and protect their loved ones.
If you do not currently have a Will or would like to update your existing Will get in in touch with our team today who will be able to guide you through the process every step of the way.
You can get in touch to arrange a meeting with our expert Wills team today by calling 01525 378177 or email info@ommlaw.co.uk.
(Stay tuned for information on the next country-wide campaign: National Conveyancing Week)
