A few years after his wife passed away, Greg fell in love with Sarah and married her. Greg had a son from his previous marriage. He did not make a Will because he assumed that his property would be equally divided between his wife and son, in the event of his death. However, on his death all his belongings and whatever little savings he had went to Sarah. By failing to make a Will, he deprived his son of his fair share. When I heard this, I immediately prepared a Will not wanting to take chances.



When someone fails to leave behind a Will, the distribution of his property and possessions would be governed by the Administration of Estates Act. This condition is referred to as Intestacy and his possessions are distributed based on the Law Of Intestacy.

Why People Fail To Make A Will

If not for the Will, all our hard-earned belongings will be distributed in a way that we may not have intended. More than fifty percent of the population in the UK have not made a Will. This is primarily due to the following reasons:

• Incorrect assumption that the property would be automatically inherited by the spouse and the children



• Death is an unpleasant topic for almost everyone. Since drafting a Will pertains to the possibility of a person's death, a lot of people try to evade the subject.

By not preparing one, you might jeopardise the future of your beloved ones. With the help of online services, you could prepare a Will within minutes at prices that are affordable. This would be one of the best gifts that you could ever present to your family.

The Process of Making a Will

Having a Will with loopholes is as good as not having a Will at all. So care should be taken while drafting it. Here are a few tips to prepare a foolproof Will:

• Unless you are going to prepare a simple and straightforward Will, hire a solicitor to do it for you.



• Make sure the Will contains the details of all your assets and liabilities including your pension, insurance, mortgage, etc.



• Appoint an executor who would maintain the property before it is being distributed. The executor can also be one of the beneficiaries of your Will or a friend. However, since it involves a lot of responsibilities, you can alternatively hire a professional executor for a fee.



• The first line of your Will should mention about revoking all your previous Wills. Also, make sure you destroy any previous Will that you might have written.



• You and two more witnesses need to sign the Will to make it legally valid.



• Choose a safe place to keep your Will. It could be at the principal registry of the family division, solicitor, bank or your home.



• Whenever you purchase or sell a property, revise your Will and keep it up-to-date.

Importance Of Preparing A Will

The absence of a Will and its implications justify the very importance of having one. Here are a few things that might happen if you do not leave behind a Will:

• Apart from your spouse and children, a portion of your property might be distributed among other relatives you may hardly know.



• If you are not legally married to your partner, he or she might not inherit any of your possessions, irrespective of how long you have been living together.



• Your children from your previous marriages might not be able to inherit any of your property.



• In case you and your spouse die without naming a guardian in the Will, then the law has to make a decision on the matter. You would be in a better position to choose a suitable guardian for your children than anyone else.



• By preparing a Will with proper advice, you can avoid the money spent towards inheritance tax.

If you are above 18 years of age and do not have a Will, wait no more. Find a solicitor and get it done immediately. After all, it is all your money; shouldn't you be the one to decide who inherits it.