Recent content by Mike-Smith

  1. Mike-Smith

    What are some of the biggest challenges you have faced when setting up your business?

    Hi All, I am keen to build up an understanding of the main difficulties and pitfalls that you have faced when setting up your own business, as well as the positives of owning a business. It would be great to create a thread of positives, negatives, and tools to improve situations in business...
  2. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    Just back from a nice half term holiday with the kids and my wife. Catching up on all the comments. So re. appointing a solicitor as the executor - this is surprisingly common. People don't want to put the burden of being an executor on to loved ones and / or friends. Solicitors have to follow a...
  3. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    Sensible advice. We find a lot of people appoint a family member or a friend to be the executor. In my instance i have appointed my cousin. We also find that a lot of people don't actually tell their family member or friend that they have appointed them as said executor! We recommend that you do...
  4. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    Noted on both parts. Solicitors are a different breed of people. I come from a corporate background and have been astounded at the lack of relationship management that some solicitors show. Saying that some of those people are phenomenal legal experts that i would 100% want representing me...
  5. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    The main issue here is that people can only speak of their situation - and treat it as if that's the only way to look at it. The divorce rate in the U.K is estimated at 42%. A lot of people do wake up to their partners / husbands / wife's running off with someone else, or falling out of love...
  6. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    I am very sorry to hear the news. Thoughts go out to you and your family. Appreciate you raising this important point. A Lasting Power of Attorney (LPA) is such an important document (alongside a Will), but again most people don't think about writing one until there has already been some kind...
  7. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    love that idea. many thanks.
  8. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    As i said - for you that may be the case - for a lot of other people (not married, children from other relationships, complex trusts and business structures etc etc) there are a tonne of pain points that are unlikely (but not impossible) to be covered by the tutorials you have used. Its all...
  9. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    This responses are exactly the reason why i set up this thread, and i expected these answers. There are clear reasons why 3/5 of the U.K adult population don't have a Will. What i am hearing here is mainly: 1. Cost. 2. Ignorant? bliss / naivety that when you are gone your partner, wife...
  10. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    Yes - it’s not exactly a nice conversation to have. My priorities changed when i got married and had children. I wanted to ensure my family were looked after, and that they did not have to deal with any court issues due from not having a Will!
  11. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    True - a basic Will is pretty easy to write. So long as you have the legal jargon covered.
  12. Mike-Smith

    60% of adults in the U.K do not have a Will. Why is that?

    Hi All, I am keen to get your thoughts on the reasons why 3 out of every 5 people in the U.K do not currently have a Will. What stops business owners and individuals from setting one up? Too busy? Costs? Too much legal jargon out there? They are still young so don't need to do it yet etc etc...
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