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Do I need a will?

If I make a will something will happen to me. My estate will pass to my common law wife. My husband will receive everything when I die. I don't have enough assets to need a will.

These are all reasons people give to Argo for not making a will. We can reassure you that we have never had a client leave our office after making a will for them to be hit by a bus. There is no such thing as a common law wife. Your spouse may not receive everything when you die. You do not need to have lots of assets to make a will.

A recent IRN Wills and Probate Research report has identified that fewer than 4 in 10 adults have made a will. The report has surprised industry experts as they were expecting this figure to increase significantly in light of covid but their figures show there has only been a 1% increase in will making between 2019 and 2020. This is of no surprise to Argo as many people we speak to do not have a will until they talk to us. We did not see a huge influx in will making during the pandemic because when we spoke to people they were more concerned about keeping their jobs, homes and children fed.

Statistics have always shown that the older we get the more likely we are to make a will. Youngsters are invincible. You are too busy in your 30s and 40s and don't have the spare cash as you need all the funds you can get for the kids. In your 50s you are busy trying to pay off your mortgage and supporting the kids at university, not to mention the grandchildren who might start to appear. It is usually in our 60s, when we start to think about retirement, that our minds turn to wills, but it is not age that underpins the need for a will, it is what you own.

If you own a car, a house, whether or not it has a mortgage, have some savings, have jewellery, have children these are the things that should govern making a will not how old you are. Dying without a will causes huge problems for families. The intestacy rules govern who can administer an estate and who will inherit. These rules can mean that distant family members you have never met could inherit your estate. Ownership of houses can be made very complex if they are co-owned. Issues with estranged family members can arise and the absence of a will could lead to an unwanted gift being made.

Writing a will gives you peace of mind and certainty about what is to happen with your assets on death. It ensures that those most important to you are protected. If ensures that distant family members do not inherit and those you have fallen out with do not benefit by default. A will also allows you to document your wishes in relation to the future care of your children. Will writing is nothing to be scared of. It's just a conversation and an exchange of ideas. So, let's get on and get it sorted.

We have lots of appointments for you if you would like to make your will. All it needs is for you to pick up the phone and give us a call on 01622 843729.


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