Why should I write a Will?

People commonly give three excuses for not having a Will:

• I don’t need a Will because all my money will automatically go to my partner or children.
• I don’t have enough money to write a Will.
• I know I need to write a Will but I’ll do it later.

These excuses are misguided and the consequences of people dying without a Will can be horrendous for family and loved ones.

Why write a will?

If someone dies without a Will then their affairs will be settled according to the rules of Intestacy. These can be very unfair:

• Unmarried partners are entitled to nothing
• Married partners only get the first £250,000 or £450,000 (depending on whether or not they have children) and a life interest in half of the remainder.
• If both parents die their children may be taken into local authority.
• If the estate is worth more than £5000 its assets will be frozen until probate is granted which may leave the family without money to live.

Please speak to one of our advisors at We Know Mortgages Ltd and we’ll recommend you solicitors whom specialise in writing wills.