10 reasons why you should make a Will this week

As you’re not able to leave your home, there’s never been a better time to get your affairs in order; that includes your Will. Here’s why you should make (or update) your Will this week.

The UK is under lockdown because of the Coronavirus outbreak. We’re all doing our best to keep ourselves and our loved ones healthy. However, events like this can remind you of your mortality. It’s not nice to think about, but no one lives forever.

Did you know that 54% of adults in the UK do not have a Will? This means that if they die, they’ll cause significant stress on the people they leave behind, at an already difficult time. Don’t be one of those people.

At Couchman Hanson, we’re running a 7-day premium fast-track for Wills. That means you can make your Will in just a week. (Ts & Cs apply)

Here are ten reasons why, if you haven’t done so already, it’s time to make your Will.

1 – You’re in control

When you make your Will, you create a legally-binding document that decides how your estate will be allocated after your death. You get to divide up your assets, deciding who receives what, without any outside pressures. It’s all up to you.

2 – You choose your executors

Executors are the people who administrate your financial affairs after you die, such as paying your outstanding bills and notifying your bank that you’re no longer around. They will also look after the distribution of your estate in your Will. When you make your Will, you can choose who your executors will be. Make sure you choose someone who is good with admin. For peace of mind, you can appoint your solicitor as your executor, for a fee.

3 – You decide who will take care of your children

If you have children under 18, you use your Will to decide who will look after them if you die. You can choose the people closest to you, who will do the best job of raising them. Without a Will, a court may appoint a guardian, who may not be the person you want bringing up your children.

4 – You minimise legal challenges

When you die without making a Will, it is called dying ‘intestate’. A Probate court will decide how to distribute your estate, with no outside input. This can lead to legal challenges from people in your family who believe they are entitled to something, while others close to you will lose out. These challenges are expensive and complex. Is that really what you want?

5 – You relieve stress on your loved ones

Your death will be a stressful time for the family and friends you leave behind. They will be devastated that you have passed away, and some people will deal with it worse than others. Making a Will can relieve some of that stress, taking away the possibility of legal disputes and family feuds over your estate.

6 – You can donate to charity

If there is a charity dear to your heart, you can donate part of your estate to it after you have died. Many people like to do this as it gives their chosen charities valuable funds, while helping their name live on in some way.

7 – It’s more tax efficient

When you make a Will with the help of a qualified solicitor, they can help you make the distribution of your estate more tax efficient. If your assets fall within the thresholds for Inheritance Tax, a solicitor will be able to help you reduce your tax liabilities, while staying within the law.

8 – You can look after the people you love

If you die without making a Will, your estate will automatically go to your spouse, if you have one. When you make a Will, you get to make sure your assets go to the people you want them to. You can provide for the people who need help after you’re gone. It’s your choice.

9 – You can update your Will whenever you like

The great thing about Wills is that they can evolve. Once you’ve made your Will, you’re welcome to go back and change it. It means you can leave assets to new family members or new friends you have become close to. Or,  you can disinherit people who you feel don’t deserve anything anymore.

10 – Because you could die tomorrow

It’s not something we like to talk about, but it’s a fact. Tomorrow is not guaranteed to come. Even people who live the healthiest lifestyles can succumb to accidents or illnesses. The Coronavirus pandemic is an example of what can happen. Why risk dying without a Will and all the expense and stress that it brings?

At Couchman Hanson, we’re running a 7-day premium fast-track service for Wills. You can make your Will, with a Couchman Hanson solicitor, in just a week. Then, it’s done - what a weight off your mind.

We are also offering an out of office hours service between 7am and 10pm and Saturdays if specifically requested to take instructions.

(Ts & Cs apply)

Find out more about our Premium 7-day Fast Track Service

At Couchman Hanson, our solicitors genuinely care about getting the best outcome for you. We’re highly professional, with ‘city’ level talent and experience, but also friendly and welcoming. Everything we do fits with our values of integrity, honesty and authenticity. 

Call 01428 722189 or email enquiries@couchmanhanson.co.uk