Article

The importance of making a will in uncertain times

6th February 2023

The last year has been an uncertain one for many of us; facing an ongoing cost-of-living crisis, a change in several governments and a war in Ukraine. It can seem overwhelming at times, and difficult to make solid decisions about the future.

It’s at this time of year we tend to look back and reflect while also considering plans for the future. New Years’ resolutions are sometimes easily forgotten – but making long-term plans to ensure yours and your family’s interests are protected is of paramount importance.

What happens to our wealth, our house and our possessions when we die aren’t day-to-day questions we ask ourselves. However, putting a will in place to make sure these assets are distributed as you’d wish is something we should all think about.

While no one wants to think about dying, a will is one of the most important documents you can make – these should never be overlooked at any age, particularly if you have children or are living with a partner but are not married or in a civil partnership.

The absence of a will can lead to added stress during a time when your family are grieving. If you and your partner are not married, and do not have wills in place, your estate will be distributed according to laws which ignore your partner.

In this case, it is highly likely the rules that will be followed will not match your intention to protect your loved ones. In already uncertain times, making sure that your intentions are followed is essential – not just for your family, but for your own peace of mind, too.

Even if you are married but don’t have a will in place, your children could inherit assets you may want to protect for your spouse – such as the family home. This has the potential to become a difficult situation for those involved and could cause unnecessary hardship.

A will that is carefully drafted will ensure that your wishes are followed and considers your family dynamics. There can often be further complexities involving children from previous relationships – this is where simple trusts can be used to protect your spouse and your children to avoid potential claims against your estate.

Our team of experts are always sensitive to the needs and personal circumstances of each client and will tailor advice and assistance to match those needs. Making a will is therefore much simpler than you may think.