When you’re young, there are lots of things that you consider doing, but one thing you probably didn’t consider was getting a Will prepared – well why would you when you’re looking forward to living life to the full with no intentions of dying!
However, YouGov research has revealed that around 60% of all adults in England and Wales do not have a Will with a large majority of these being under 55 years of age. Only two in five (42%) of 45 – 54 years have a Will, which indicates that younger adults are just not protecting their assets by having a valid and legally drawn up Will.
So those younger adults who are on the property ladder and who have assets need to be aware that unless they have a Will, their assets may not be passed to their loved ones on their death as they will have died intestate.
Dying intestate means assets will not necessarily be inherited by the persons you would want, sometimes leading to family members either not receiving an inheritance at all or as much as you would want. Inevitably at this traumatic time, this can lead to arguments and additional legal action taking place to try and unravel the complications of dying intestate.
So to save families from falling out over estates I would recommend that not only a Will is prepared with the help of a specialist Solicitor, but that the contents and decisions it contains are explained to the family as well.
No-one wants to consider their demise, but when there are assets involved, irrespective of your age it is always wise to have a Will drawn up to protect your estate and ensure it is distributed to those people who are important to you.
For expert advice drafting your will call Battrick Clark Solicitors for an initial consultation on 0117 973 1391.