There is no specific time when you should make a Will, the problem is most put it off until it’s too late!! So many think, oh I will get to it!!
Recently one of the contestants in 70 Degrees North on ITV1 (an extreme competition for celebrities in the Arctic), said on going over a precipice. “Maybe I should have made a Will!” Whilst this is an extreme example, I meet people everyday who say, they want to make a Will but don’t do it!!
The problem is most people are utterly convinced that they will get around to making a Will: when they have time, after they get married, after the divorce comes through, when they have children, when they have more assets.
The statistics however show that 60% die without having a valid Will in place.
Without a Will in place no one is appointed to deal with your assets, and your Estate will have to be administered in accordance with the Intestacy Rules.
The result of you NOT having a Will could mean: that the people you want to get your Estate don’t get it! The people who do get it may not have seen you for years. If you are married it is also likely that part of your Estate will be held on Trust for your children, in other words your assets will not go to your spouse (as most would want)!
So the best time to make a Will is now! Don’t put it off!