These days it’s hard to find a positive story around Covid 19. But perhaps prompting an increase in will writing is one.
Many legal firms are reporting this increase because of the outbreak of Covid 19. The National will register, used by many probate research firms, have also seen a marked increase in will searches according to the Independent.
This is an improvement because under half the population of the UK has a will. Currently the wealthadviser states that 31,000,000 adults are without one!
Misguided Assumptions
Many people unfortunately do not realise that a change of partner will need to be updated on their will. And because of this wrongly assume that it will now go to the new partner and this can cause immense heartache and pain.
The legal definition of a will is:
a legal declaration of a person’s wishes regarding the disposal of his or her property or estate after death
If those wishes change, many people believe that if their friends and family are aware this is enough. It is not!
A much misunderstood situation is living with your partner whilst not married. So many cohabiting couples incorrectly believe on the death of a partner they would be entitled to the estate. But this is not necessarily case. Because if there is no will the law of intestacy comes into play.
The Law of Intestacy
The Citizens Advice Bureau explains it this way:
Intestacy is the state of a person dying without a valid will. Intestacy laws dictate which relatives will receive a part or all of your estate. The arrangements made to the beneficiaries under intestacy laws likely will not reflect how you want your estate is to be divided between your friends and loved ones.
Something to think about!
In Conclusion
One of the reasons we tend to put off writing a will is that it reminds us of our mortality a subject we tend to avoid. However it is important to protect those possessions that are important to you and those close to you. If you want to avoid adding more pain and grief to the ones you love then writing a will is a must!
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