When the coronavirus pandemic hit the UK in March and the country went into lockdown there was a sense of households battening down the hatches to wait out the storm.
In financial terms, that meant working out – as quickly as possible – all of the implications, and how to navigate the rapidly changing landscape.
In emotional terms, COVID 19 claimed over 52,000 lives (Source: Gov.uk dashboard) which has sadly prompted people to start thinking about what happens to their families in the event of their deaths.
People tend not to think about wills, because they do not like to think about death. But if somebody dies without making a will or without a will in place, they are said to have died intestate. According to the Office of National Statistics about 60% of people in England and Wales die intestate. If this happens, the law sets out who should manage the deceased’s affairs, who should inherit their property, personal possessions, and money and how the estate will be shared. At best, it will be inconvenient; at worst, it could trigger bitter disputes and lead to some loved ones missing out entirely.
Karen Barrett, CEO and founder of Unbiased said, “It looks as if people still aren’t getting the message. The huge benefits of having a will, and the even bigger risks of not having one, should be far more widely known and talked about. People think a will is just for the end of their life, and it is – but who knows when that will be? It is clear that many people think they’re just not ‘rich enough’ to need a will. This ignores the fact that a will makes inheritance a far quicker process – do they really want to keep their loved ones waiting longer, when that money might be badly needed? It also doesn’t take into account the complexity of modern families; which intestacy law simply doesn’t address. Children from previous marriages could end up receiving nothing at all.”
At CL Wills & Estate Planning Ltd, we offer a comprehensive Will Writing service using straightforward language, so the process is as clear as possible.
Want to find out more about our Will Writing service?
Call us on 01606520322 now. Or, email us at info@clwills.co.uk. Or, arrange a free initial consultation.