A Will is a good investment.

Here are some quick reasons why you might invest in a proper Will, even if your life is ‘simple’ and you ‘haven’t got much to leave behind’:

1.     Without a Will, the law decides how to distribute your property, usually amongst relatives.  This is called ‘intestacy’ or ‘dying intestate’.  The rules are not straightforward.  For example, if you want your spouse to inherit everything, and you have children, then you probably need a Will. 

2.     Often, it is more expensive to die without a Will.  Dying suddenly without a Will can put a bigger burden on your family at an already stressful time. It is still important for people who ‘haven’t got much’ to prepare a Will, appointing an executor, and stating what is to happen with money and belongings.  It is a myth that only ‘rich people’ need Wills.

3.     Be aware that if a young adult, over 18 years old, dies in an accident, their parents cannot automatically finalise their estate for them.  The laws are very different after a person turns 18.  Young adults should prepare simple Wills which can be updated as they marry, acquire property, etc. 

If you cannot afford a Lawyer then you can contact the Public Trustee, or use a ‘Will Kit’ from the post office.  This can often be better than having no Will at all, but you should think twice before deciding to rely upon these options, as there are pitfalls which can be avoided if you obtain expert advice.