Why You Shouldn’t Put Off Making A Will

Why you shouldn’t put off making a Will

Laura Fahy Senior Associate

The tragic death of a Spitfire pilot in Coningsby serves as a stark reminder to military personnel to not put off making a Will. Writing a Will is very important and is something that every single individual should do, even if you don’t consider yourself to have a lot of money or possessions.

There are many reasons why it’s essential to make a Will, such as:

Reducing stress for your family
Making your funeral requests clear
Reducing the risk of arguments among family
Controlling your estate and who you leave it to
Helping to reduce the amount of Inheritance Tax paid
Appointing guardians for your minor children
Having the ability to donate to charitable organisations
Making provision for your children (if under 18)
Making arrangements for pets
Avoiding the intestacy rules (set of rules if there’s no Will)

Making a Will is one of those tasks that people tend to delay, but what are the consequences of leaving it too late and dying without a valid Will?

The intestacy rules

If you die without making a Will, then the intestacy rules govern who will inherit your assets. This can have unexpected and significant consequences, as your estate may not pass to the people you want to benefit.

For instance, if you are married, there is no guarantee that your children or grandchildren will inherit anything at all. In addition, there is no such thing as a ‘common law marriage’ which means that cohabitees will not receive anything under the intestacy rules, irrespective of how long they may have been in a relationship together. Stepchildren and step-grandchildren are also not included under the intestacy rules.

This is why it’s so important to make a Will and to clearly state your wishes as early on in your life as you can.

When is the best time to write a Will?

Ideally, it’s always best to write your Will at the earliest opportunity. Many military families may decide to create or update a Will before entering into basic training or serving on tour. Both civilians and military personnel should also consider drafting a Will before a holiday or when they reach key milestones – such as buying a house, getting married, or having children. These are moments when you will start to accumulate an estate or have dependents, so it’s important to have a plan in place if anything should happen to you.

It can be tough to know when or even how to leave assets to someone in a Will, especially if you’re only at a young age, but it’s important to be proactive and prepared for all eventualities. Making a Will allows you to make the decisions, rather than risking someone else (or the law) making them on your behalf.

Military private client lawyers

Our specialist Wills, estates, tax & trusts solicitors are experienced in advising armed forces personnel and their families. Get in touch with our expert military lawyers to discuss drafting or updating your Will today.