Making a will has always been important. But now, perhaps more than ever, we’ve seen how important it is to have a will in place. Over the last few months, the world has seen the devastating effects of the global coronavirus (COVID-19) pandemic.
Affecting people of all ages, the infection has highlighted that making a will shouldn’t be restricted to the elderly or the sick – it’s an important document for all adults as we never know when the worst might happen. Having a will makes sure your estate is dealt with as you wish and your loved ones are looked after and protected after you die.
What Are The Most Important Reasons For Making A Will?
For many of us, making a will can be low on our priority list. We might believe there’s no hurry as we’re fit, healthy, and potentially, relatively young. But there’s research out there suggesting as many as 60% of adults don’t have a will.
If you’re one of them, it could mean your estate is administered according to strict guidelines beyond your control, so your benefactors might lose out. That in itself is important to remember, so thinking about how you want your estate dealt with and who you want to provide for after you die is paramount. Other reasons include:
- ensuring your spouse and children are provided for financially
- protecting your family home and any other property
- lowering any inheritance tax due
- appointing legal guardians of your children if they’re under 18
For more information, take a read of our article on why you need to write a will. If you already have a will, you may want to consider reviewing and updating it. In which case, it is worth taking a read of our article on reasons to update your will.
Aftercare & Storage
Once your will is taken care of, you should think about its aftercare and storage. When using will writing services, such as those offered by Will Power, it’s common to have these factors included to protect your will from damage or loss, and to be able to change or update your will whenever necessary.
If you were to store your will at home as many do, it’s open to accidental damage, being destroyed in fire or flood, altered, or even lost. Using a will storage service automatically means your will and associated documents are stored securely in a vault, complete with insurance. While you can have a copy at home, the original is safely protected until it’s needed.
As well as storage protection, any aftercare service provided means you’re able to make changes or update your will at any time. As well as any decisions you choose to make, we can make you aware of any legal changes that might come into effect that could affect your will or its benefactors. Overall, this means your will is always up to date legally, and in line with your own wishes.
For more information, take a read of our page on will storage and aftercare.
Upfront Help & Advice
Recent global events have shown the importance of having a will. Once completed, with aftercare in place, it’s one less thing for your family and loved ones to worry about. Plus, storage means it’s easily accessible to those that need it in difficult circumstances.
All our will specialists have face to face discussions with people in their homes to advise them on complex will issues and their personal circumstances. Of course, this isn’t possible at the moment, but we can give you the help, advice, and peace of mind you need to get your standard will in place.
Once the coronavirus emergency is over, we can take the time to visit you in person to review your will and look into more personalised options including different trusts and protections and appointing executors or LPAs.