We all know how important it is to have a Will, however about 60% of us still do not.
It’s important to understand what will happen to our estate if we die without a Will, and the
implications that this will have for our family, our children and our loved ones.
Making a Will is the only way to ensure that your wishes are carried out after your death in
the way you would want them to be. Without a Will, those who you would want to look after
when you die may have to wait longer than necessary to benefit, causing further distress to
those you love during an already difficult time.
Making a Will offers not only financial certainty for those you leave, it also provides
emotional peace of mind.
If you are single:
You might want your estate divided amongst friends, relatives and charities of your choosing
and in the proportions you want.
If you are married:
Don’t assume “my other half will get everything”. Brothers and sisters or parents may have a
claim. Often your children have a right to part of your estate. If you are living as a couple but
not officially married, you may be treated as a single person and a surviving partner may get
nothing at all. One thing you can be certain of – there will be arguments and disputes at a
time when the family should be coping with the loss of a loved one.
If you are a parent:
You should consider who you would like to look after your children in the event of your
death. This is particularly important in the case of one parent families or unmarried parents
living together. A valid Will nominating guardians is invaluable in such cases. If no one
knows what you would have wanted, the Court will decide on the future of your children, and
it may not be what you or your children would have wished.
If you are retired:
Maybe you made a Will a long time ago. It probably needs updating to include additional
grandchildren or deletion of persons you no longer feel you wish to leave anything to.