Exceptional as Standard

I don't need a Will, my family will sort it out for themselves…. Won't they?

It is estimated that approximately 60% of adults do not have a Will in place, which is a fairly alarming statistic. This may be for a whole range of reasons, however a common misconception is that you do not need a Will if you have a small estate or simple family arrangement.

Unfortunately, family disputes on the death of a relative are all too common, particularly in cases where the deceased did not leave a valid Will. Even where the family structure is simple and seemingly have a good relationship, the stress of losing a loved one can mean that individuals are not in the right frame of mind to make clear and logical decisions. 

Inevitably, such a disagreement can lead to each party appointing their own legal representation which can delay the distribution of the estate over a number of years and result in a high level of legal costs, sometimes running into hundreds of thousands of pounds. Such costs are frequently paid for by the estate meaning the end distribution is significantly lower as a result.

Taking the time to put a properly drafted Will in place along with a letter of wishes should remove any uncertainty regarding the distribution of your estate and avoid any potential beneficiaries fighting for what they deem to be a 'fair share'.Once a Will is in place, it is equally important that it is reviewed on a regular basis and in particular at any 'life events' such as marriage, divorce or the birth of children/grandchildren.

For advice on drafting a new Will, updating an existing Will, inheritance tax planning or assistance with probate, please contact your local Perrys branch.

Article written by Craig Harman

We use cookies to help provide you with the best possible online experience.
By using this site, you agree that we may store and access cookies on your device. You can find out more and set your own preferences here.