We all know how important a Last Will and Testament is, but do we treat it with enough importance?
What the world is experiencing right now due to the COVID-19 outbreak, is nothing short of heart-breaking. There is no denying the situation is unprecedented and it’s likely the majority of us won’t have experienced anything quite like it in our lives, and never will again.
While the nation stays at home to protect the NHS and save lives, we tune in to daily briefings from the government for updates and guidance on the ever-evolving pandemic, here in the UK and across the world.
The intention is to stay safe and limit contact with others to reduce the spread of the deadly Coronavirus. If you can follow the guidelines set out by the experts, chances are you will be just fine, but it’s only natural that you would worry about what the future might hold.
The COVID-19 lockdown is giving those of us who are lucky enough to stay home and stay safe, the gift of time. While some may work from home and be busy home-schooling children, we are likely to have more time on our hands than ever before.
While the time should, of course, be spent being productive, staying connected with loved ones, and supporting those around us who need our help, the time should also be spent preparing for post-COVID-19, and getting around to those life admin tasks that we’ve been putting off.
The combination of a global health crisis and spare time is the perfect opportunity to get your future planning in order; as a bare minimum, your Will.
“I don’t have anything to leave in a Will”
One of the most common reasons for delaying the Will writing process – is a misplaced belief that you have nothing worth passing on. Everyone and we mean everyone, has something worth handing over to their loved ones in the form of a Will.
Any jewellery you’re wearing right now could be worth a fortune to inheritors or may prove to be the perfect gift for a loved one as they’ll have something physical to remember you by. “Junk” stashed away in cobwebbed corners of your property or attic may seem as though it has no place in a will, but there is evidence to suggest that possessions like foreign currency, stamps, books, and comics may end up being worth thousands in a few decades.
Wouldn’t it be wonderful if you could help your children to fund the purchase of their very first home simply by handing over your old possessions via your Will?
Even people without these deceptively valuable dust-gathered items still have much to offer their friends and families by writing a Will. Pieces of writing, letters, photographs, and souvenirs may not be worth anything to a pawn shop, but they could prove utterly invaluable in the hands of a loved one. You can’t put a price on sentimentality.
Regardless of your financial situation, you’ll almost certainly have something worth passing on through a Will that your inheritors will cherish for years to come.
“I’m young, I don’t need a Will”
We can predict, hope and wonder what will happen when we wake up every morning, but there is absolutely no way of us knowing. That’s why inspirational speakers and authors are constantly telling us to “live in the moment” and “act now” whilst we still can.
That’s why you’re seeing so many bucket lists appear on your social media feeds at the beginning of each new year. That’s why treasuring every second of our time on this planet is more important than anything. The inevitable end that awaits us needn’t be a bleak concept – but rather one that kicks us into gear.
You might not have children right now. You may not even be married. But that doesn’t make writing a Will any less of a vital act. Wills can be tweaked and changed at a moment’s notice, and by having all you core details in a document right from the very beginning, you can easily and effortlessly alter your Will as you journey through life whenever you deem necessary.
“I have a Last Will and Testament already, but it’s not up to date”
We cannot stress enough the importance of having a Will and ensuring it is up to date. Major life events can significantly affect the information in your Last Will and Testament.
Children, grandchildren, great-grandchildren, weddings, divorce, separation, death, buying a house and selling a house are just some of the life events which could affect your Will.
If you think you already have a Last Will and Testament, check to make sure it is up to date and reflective of what you want. If you can’t find your Will, we strongly suggest creating another one to ensure you are covered.
We believe that writing a Last Will and Testament is one of the most important things you can do, as it allows you to have your affairs in order for the people you care about, even when you’re no longer here.
If you don’t have a legally binding Last Will and Testament, the law will decide how your estate and worldly possessions are distributed. Not to mention the inheritance tax bill your family may be lumbered with.
Our team has written over 10,000 legally binding Wills, and we will make sure that all the information in your Will is legally accurate and can help guide you through the process.
Major life events are happening right now, and it is more important than ever to make sure you have an up-to-date legally binding Will.
If you need any help or support at this time, give us a call on 0800 088 4670 and we can help you write your Will.
Stay home. Stay safe.
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