There are several potential issues that can arise from not having a will, which can also be detrimental to loved ones; but still over 60 per cent of adults in the UK have resisted getting one.
Awareness is important during National Wills Week; the impact of not having a valid will can be significant. Here are three major consequences that one can expect from not having a will:
- Assets may not go to the desired people
Without a valid will, you cannot control exactly what happens to your estate. A will can give you reassurance that your estate will be shared among your loved ones in the proportions that you want.
- Such complications can lead to conflict amongst family members
There is a chance of drawn-out, legal battles and infighting between members of your family. Your will could give clear instructions on how assets are to be shared and divided.
- You can’t choose a guardian for your children
If you have children under the age of 18, a will would enable you to choose a guardian to take care of them if something happens to you or their other parent. If you don’t state your choice of guardian in a will, the courts could pick someone else.
It is suspected that the reason for 60 per cent of adults in the UK not having a will is the assumption that drawing up a will is a complicated and costly process. With the right legal help, it doesn’t have to be.