Without doubt the two things that we hear the most when talking about Wills or Estate Planning is "I have nothing to leave anyone" or "I'm too young"
Nothing to leave: Are you a Mother or Father? In the event of anything happening to you, who do you want to look after your Children? You'd think that they would automatically go to family - If you don't choose a guardian, the local authorities will be charged with deciding – and while they often prefer immediate family, this is not automatic.
Nothing to leave: Do you have pets? What would happen to them if you or you and your partner were no longer around?
Nothing to leave: Do you have a Life Assurance plan, that isn't written in Trust? On death that will come into your Estate, without a Will it will be dealt with through the laws of intestacy.
Nothing to leave: Making a decision on what you want to happen to you when you die? Funeral arrangements. Not the nicest of thoughts, but if you have any specific desires, this can be outlined in your Will.
I'm too young: Believe it or not, everyone is going to die at some point, planning early doesn't make you die any sooner, it just means you know if anything happens you have already planned.
I'm too young: A Will is actually called Last Will and Testament, this doesn't mean that once you have made one, it cannot be changed. It is advisable to review your Will throughout your life, as changes will happen. The first paragraph of will is the Revocation, it says "I, NAME, revoke all earlier Wills and testamentary dispositions made by me and I declare this to be my last Will and Testament"
If you want more information about Wills, or Lasting Powers of Attorney or other estate planning, please get in touch.
MiGem
Life Well Planned
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