Will Aid

The results of the 2011 Will Aid survey into Wills and inheritance, released today, reveal a surprise increase in the numbers of people with a Will. Although the survey can only provide a snapshot, it is to be hoped that people are finally wising up to the importance of having a proper Will. This is the first increase in the percentage of respondents saying they have a Will, up from 40.1% in 2010 to 46.2% in 2011.

However, the overall figure masks some significant differences across the age groups with increases in the 18-24 and 45-54 age groups, but a decline in the 25-34, 35-44 and 55+ age groups.

Shirley Marsland, Will Aid campaign manager commented:

“Will Aid welcomes this overall increase and particularly the rise in the percentage of younger people with a Will. But there is still a long way to go. It is only in the over 55 age group that a solid majority say they have a Will. It is also surprising that so few parents with dependent children have a Will – a mere 32%”.

Everyone should wise up to the need to make a Will to ensure that their assets go to the loved ones and the causes they really care about. But there are many people who, for one reason or another, can be left vulnerable if someone dies without a Will. The most vulnerable are younger children, dependent on their parents financially and physically and emotionally.

By making a Will you can make provision for your children and also decide at what age they can inherit. Children cannot inherit until the age of sixteen in Scotland and eighteen in the rest of the UK. If you were to die before they reached the relevant age then, as the Law stands, if they were entitled to inherit they would do so automatically when they reached that age. You may think that this is too young and may want the money held in Trust for them until the age you think is appropriate.

Over 46% of the parents surveyed wrongly believe that when a parent dies, care of any children automatically passes to their partner. A further 18% say they do not know. It shocks many people to discover that their partner might not automatically have care of the children.

In your Will, you can indicate who you think should care for the children in the event of your death and the Courts will take your views into consideration. It is also important to try to stipulate who you would like to be the guardians of the children in the unlikely event of both parents dying at the same time. 

In addition, if you have children, remarriage when widowed or divorced can lead to particular problems for those children. Unless specific provision is made in a Will then assets will pass to the new spouse and the children may receive nothing. Stepchildren can also lose out if there is no Will and they have not been formally adopted.

Children can bring their own problems for surviving partners too.  When someone dies without a Will and has children, there can be problems even if they were married. The surviving civil partner, husband or wife will be automatically entitled to receive only a share of the estate. This may not be sufficient to enable them to keep and run the family home and where there are young children may make it impossible to survive financially without suing the children for some of their inheritance.

When someone dies without a Will, the resulting problems can usually be sorted out eventually but after a great deal of stress and expense. The outcome is rarely as good as the deceased would have wished for.

Will Aid provides the perfect opportunity for people to get on and make that all important Will, whilst giving to charity at the same time. Many charitable Will schemes are aimed at older people. Will Aid is different. The scheme is open to adults of any age and that’s because Will Aid solicitors know how important it is for most people to have a proper Will. It doesn’t matter whether you are 18 or 80 years old, you should have an up to date Will. 

Wise up to the importance of a Will and contact a convenient Will Aid solicitor today to make an appointment.

ENDS