I bet
@Mike-Smith is regretting starting this thread now
For me two reasons:
1. Have multiple business interests, some I know I’m going to sell, change ownership of etc hence I feel, rightly or wrongly that a will today is kind of pointless because of my circumstances changing - I envisage I would have to keep updating it but how often?
2. I’m married so just assume the lot goes to wifey anyhow and she is practically guaranteed to outlive me. I trust her explicitly and know she would do the right thing by my adult children in any event.
Good luck with your marketing.
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, husband, kids will get everything and there wont be any skeletons in the closet.
3. You can write a Will yourself.
4. My loved ones will do the right thing.
5. I am fit and healthy and don't need one.....
That i think sums up the thread.
Ultimately passing away without a Will can cause undue stress to your loved ones, in time, money, and emotions, during what should be a period of grief.
Setting up a Will is the only way that you can have a say over what happens to your assets when you die. Intestacy (the result of someone dying without a Will) can be (emphasis on the CAN rather than WILL) very painful for those picking up the pieces when you pass.
Things to consider if you don't have a Will:
A. Unnecessary tax bills for your beneficiaries
B. If you are not married then your partner may not be entitled to your assets / estate.
C. Your estate may go to people you do not want it to. For example, if you're separated, your estranged partner may benefit.
D. The courts may choose an unsuitable or unwanted guardian(s) for your child(ren).
E. Your business could be divided up, sold or given to someone you would not choose.
F. Dependants needing care may not receive your financial assistance, no matter what your intentions.
G. Other people may claim on your estate bringing large expenses, turmoil and lengthy delays to your loved ones.
H. You won't know who will take care of your pets.
Yes the above does not affect everyone, and obviously won't affect you once your dead, but there will be some of the above that do directly impact your loved ones / beneficiaries. Spending £100, £500, £1,000 or whatever you deem a suitable amount of money (if any) to alleviate the above is worth it in my opinion, but i have a Will and am obviously working for a Firm that offers that service.
Anyway - I really appreciate all your inputs. Our Firm do need to consider what are the pain points / barriers - you have provided me with some great food for thought.
