5 Reasons Why You Think You Don’t Need A Will …… (But Really You Do)
For various reasons people often think they don’t need a Will. However, they are unaware of the consequences of not having one in place.
Here are five common excuses we hear as to why people think they don’t need a Will, that aren’t actually true and could leave their loved ones in the position they might not want them to be in;
1. ‘Everything will just go to my partner, right?’
People often mistakenly believe that if they pass away, everything will automatically go to their married or civil partner. However, this is not the case in most countries; in fact, often only a small cash sum is left to the surviving partner, with the remainder of the estate held on trust for the benefit of partner and children, and in some countries even parents.
2. ‘I’m going to live forever.’
Many people put off the perceived hassle of writing a Will, instead plan on leaving it for later life, and they are confident they will reach that stage. In the UK, around half of the population has no Will in place and 185,000 people don’t reach average life expectancy each year. Is not having your Will in place worth the risk?
3. ‘I don’t have a large amount of wealth to pass on.’
A Will can state how you would like to pass anything down that you own, not just your home or financial assets. If you want to pass on sentimental items to specific people or even pets, you need to have a Will written and have these wishes stated.
4. ‘My family will know what I want.’
Talking about what will happen if you were to pass away is not the most comfortable subject, so it is often avoided. However, assuming that your family will know what you want to happen could lead to unwanted family disagreements. Having a Will written will state exactly how you want everything to be passed on.
5. ‘I Have No Children’
Writing a Will when you become parents or have other dependents is essential. However, even if you have no dependents, you may want to pass on wealth or belongings to friends or other family members or even charities, so it is still essential to have your intentions stated in a Will.
It can feel uncomfortable to discuss the topic, especially if we are young and healthy. But writing a Will is crucial to ensure your family, dependents and spouse are protected and looked after as intended.
Contact Phoenix Wills today for a free consultation, we make getting your Will written a quick, simple process so you can have peace of mind knowing everything is in place.