Dying without a Will is a choice. You can choose whether to take the time to prepare a Will, or you can delay, postpone and procrastinate. But it is important to understand the consequences of dying without a Will, not just with the distribution of your possessions, but also with the “estate administration” process.
Hopefully at the end of this article the question in the title will be answered for you. It NEVER makes sense to die without a Will. It is a decision that you make that doesn’t impact you significantly (you will be dead), but it has serious repercussions for your family and loved-ones.
Dying without a Will – the first few days
If something were to happen to you today, there is a good chance that your family would be struggling with grief. But quite quickly actions need to be taken and this would fall to your “next-of-kin”.
Although the UK doesn’t have a legal concept of “next-of-kin” it generally means your closest relative.
At LegalWills.co.uk, one of the most frequent questions we hear is “Do I need a Will?”.
When the answer is “yes”, we then hear the familiar response “But, I don’t own anything?”
If only things were that simple….
In 2014, the average net worth of a British adult was £147,134. Now, depending on the equity built up in the home, if you remove that value from the net worth it still comes in at around £20,000. Therefore, even if you don’t own your own house, there could still be well over £20,000 that makes up a part of your estate after death.
According to the pension giant Aviva, most British middle aged people have typically built up private retirement savings and investments worth £53,793. Now, you might think that these figures don’t apply to you but equity can be found in unexpected sources from ISA’s to insurance plans and even the personal items you own within your house. Continue reading
Why do I need to pay to create a Will using your service, when I can get a free one downloaded from the internet, or buy a blank Will kit from WHSmith for a couple of pounds.
We get this question a lot, and it is sometimes difficult for people to fully understand the difference between using an online Will writing services like the one at LegalWills.co.uk compared to using a blank Will kit.
To illustrate the difference, we have highlighted just 20 ways in which using a blank Will kit can lead to a disaster. Because, ironically, the simpler the Will kit, the more difficult it is to write a well drafted Will. You may find it interesting that these were culled from an initial list of 45!!
1. You don’t check where the Will kit came from and who created it.
Before you download a free Will kit template, stop and think about who actually prepared the template. Nowadays anybody can set up a professional looking legal website for free using WordPress in about 2 hours. Continue reading
We’ve been offering a service to help you prepare your own Will for 14 years now. To us, the task couldn’t be simpler. But as with anything that you only do a few times in your life, the process can seem intimidating. So we’d like to breakdown the steps involved in writing your Will. Hopefully after reading these pointers, you will feel less anxious and ready to finally cross this very important item off your To Do list.
There are some important decisions to make before you start the process of writing your Will. Some of these require consultation with friends and family members. At LegalWills.co.uk we do not expect you to complete your Will in one sitting, but if you can discuss some of these decisions Continue reading
When you prepare a Will using our service, the final document will include many legal terms and unfamiliar language that we do not tend to use in our daily lives. There will be expressions like “testamentary dispositions” and you won’t find a layman’s word like “everything” instead the Will is going to refer to “all my estate, both real and personal whatsoever and wheresoever” which for most people would amount to the same thing.
There are however 10 terms that there is no avoiding when preparing a well-drafted Will, and it is important to fully understand what they mean. They usually appear in this order in the Will;
This is simply the person Continue reading