People will often put off making a will. With just a hint of irony here are 8 reasons for them to continue not to do anything
- You like the idea of intestacy
You’re perfectly happy to leave someone else to decide who will benefit on your death. You like the inflexibility of the intestacy rules. If you’re unmarried your partner can’t benefit under these rules, but you’re sure they’ll be fine. Hopefully the cousin or other distant relative who ends up benefitting will help them out
- You don’t want to appoint executors
You don’t need to appoint people you trust to make sure that your estate is properly distributed after you’ve gone. You’re happy to leave it to someone else to step up and apply – no matter their suitability for the role.
- You don’t mind who will care for your children
You’re reasonably confident that someone will take care of your minor children after you’re gone. Failing that you’re certain that if the courts need to appoint someone it’ll be exactly the person you’d have chosen. They may not be raised the way you want….but never mind.
- There’s no need to provide for anyone in particular
It doesn’t matter who gets your great-great-grandmother’s wedding ring which has been passed down through the family for generations. You’re sure that someone will look after this.
You’re hopeful that someone will make sure your other half is looked after. If you’re not married you’re sure that your partner won’t mind the stress and cost of going to court to claim for any provision from your estate.
- You’re not bothered about your nearest and dearest paying more tax than might be necessary
The intestacy rules might not be the most tax efficient way of passing on your estate but you don’t mind that there’s a larger tax bill to pay – after all – the politicians will spend it wisely enough
- Trust? Trust who?
You can’t see any point in using trusts in your will to protect any of your assets after you’ve gone. You’re happy just to leave your estate to whosoever the intestacy rules say is entitled and so be it if they’re bankrupt – or divorcing – or just intend to gamble it away. With any luck the people you care for the most will get looked after by someone……won’t they?
- You’ve supported charities enough
If you’ve been a regular supporter of any charity – who cares that they’ll receive nothing from your estate after you’ve gone?
- You don’t mind how your funeral is handled.
You can let someone work out what you would have wanted and if there’s any disagreement amongst the family let them argue it out. Why should you bother to set out some clear guidance for them to make their lives that bit easier?
I’m a professional estate planner and will writer and spend a good part of my time encouraging people to make the effort and to put wills into place. It’s a way of making life that little bit easier for the people you care for the most in the worst of circumstances.
I act in accordance with the strict codes of practice of the societies of which I’m a member (SWW and STEP) and am approved by Trading Standards
Tel: 01628 634294 Mobile 0795 7263990