Dying without a will, is known as dying intestate. This means that if you don’t have a Will in place, you won’t have a say in what happens to your money, property and possessions upon your death.
The number of intestacy cases, in England and Wales, is rising sharply, according to the latest figures from HM Courts & Tribunals Service (HMCTS). Latest research shows 6 out of 10 people still haven’t made a will, even though most recognise how important it is to have one.
Why are People Putting Off Writing their Will?
The reasons for putting off writing a will vary with the most common reasons as follows:
- Procrastination – People feel uncomfortable confronting their own mortality
- Perceptions of Complexity and High Expense – People believe it to be both a complex and expensive process
- Family Dynamics – With evermore extended and split families, many people put off will writing because of family relationship complications
- Ignorance – Many people still unaware of the full extent of the consequences of not having a will
The Ramifications of Not Having a Will
- It can make dealing with your estate more complicated and stressful for your loved ones.
- If you die without a will, your estate may not necessarily be passed on as you’d have hoped – or to those who need it most.
- Generally, a spouse or civil partner will inherit most of your estate, but unmarried partners aren’t entitled to anything. Children and then grandchildren tend to come next.
- Probate time and costs are increased since the estate needs to be distributed according to England and Wales intestacy rules. The court will need to appoint an administrator from the deceased’s closet living relatives and identifying eligible beneficiaries and their entitlement can be a complex process.
- Applying for Letters of Administration is a more complex legal process than applying for a Grant of Probate, which is used when a will exists.
Why Wouldn’t You Have a Will?
In days gone by, making a Will was far more time-consuming and expensive than it is today. It often involved taking valuable time out of your week to engage in lengthy, in-person meetings. But times have changed. With modern approaches and technology, the process has become far more streamlined and accessible. Today, expert advice can be delivered in the comfort of your own home, conveniently through scheduled video appointments—offering a personalised and professional service without the need for traditional face-to-face consultations.