Have you been putting off writing your Will? You're not alone. In fact, around 50% of the adult population haven't made their Will. We all know that death is a certainty, yet writing a Will often gets pushed to the bottom of the to-do list. Many people procrastinate or make excuses to avoid this crucial task. You might not want to think about your own immortality, after all, it can feel morbid, overwhelming, or even tempting to believe it doesn't apply to you. But here's the truth: everyone needs a Will, regardless of age, wealth, or relationship status. Failing to create a Will can lead to unnecessary complications and stress for your loved ones in the future. If you die without a valid Will, then you are said to have died intestate and the Rules of Intestacy will apply. This strict century-old inflexible and out-of-date legislation decides the distribution of your estate and the results might just surprise you.
Here are five common excuses for not writing a Will, debunked:
Excuse #1: "I'm too young."
Myth: You might believe you don't need a Will because you associate estate planning and Will Writing with old age and significant wealth. You're wrong. Tragedy can strike at any age. You might be young and healthy now, but life is unpredictable. Having a Will ensures your wishes are known, no matter how unexpected events may unfold.
Excuse #2: "I don't have anything valuable to leave behind."
Myth: Some individuals think that if they don't have substantial assets, there's no need for a will. You're wrong. It's not just about money. Your Will can designate guardians for minor children, specify your preferred funeral arrangements, and distribute sentimental belongings – things that hold immense value beyond monetary worth. A Will can also deal with your digital and online assets and ensure that these are dealt with according to your wishes. Even if you have modest assets, a Will ensures they're distributed according to your wishes, rather than being subject to intestacy laws and being left to chance.
Excuse #3: "My family will figure it out."
Myth: People often assume there is no need for a Will, believing their loved ones will inherit their estate regardless. You're wrong. Leaving things "undecided" can lead to family conflict, confusion, and even legal battles. A clear Will avoids unnecessary stress and heartache for your loved ones during what will already be a very difficult time for them. If you are unmarried, then your partner will inherit nothing from your estate. If you have stepchildren, then they will not inherit anything from your estate. If you have estranged or illegitimate children, then they will inherit from your estate. You might also be surprised to learn that your spouse may not inherit your entire estate and this might have to be shared with your children, leading to difficulties and financial hardship. Are you sure your family can figure it out?
Excuse #4: "It's too expensive."
Myth: Many people believe that creating a will is costly. You're wrong. Our fixed fee for a Will is £150. The cost of an uncontested Will is typically minimal compared to the potential legal fees and emotional toll of an intestate estate (dying without a Will). Intestacy rules can cause your loved ones to miss out entirely and receive nothing or force them to pay a hefty Inheritance Tax bill that you could have avoided with a carefully drafted Will. Leaving your family in a position where they have no choice but to claim against your estate due to the rigidness of the intestacy rules is not only extremely stressful but will undoubtedly cost far more than simply making a Will in the first place. Is this the price you're prepared to pay?
Excuse #5: "It's too complicated."
Myth: While legal aspects are involved, writing a Will doesn't have to be complex. Many Will writers and Estate Planners, such as Toucan Law offer straightforward Will-writing services. It's an investment that grants peace of mind and clarity for yourself and your loved ones. Even if the intestacy rules deliver the desired results, bear in mind that loved ones will inherit much quicker if you leave a valid Will as well as the process being easier and less complicated for them when the time comes.
Remember: Procrastination and apathy are common reasons for delaying writing your Will. If you're in the "I'll do it later" category, then remember Writing a Will is not about dwelling on death, it's about taking control, ensuring your wishes are respected, and protecting the ones you love. Don't wait until it's too late. Take the first step towards peace of mind today by scheduling a consultation with Toucan Law to start the easy and painless task of getting your Will in place. Your future self (and your loved ones) will thank you for it.
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