With a record number of people having been placed on furlough, the COVID-19 pandemic has influenced many people to reflect on and review their current financial situation and prepare for their futures.
The legal profession has seen a spike in the number of people having made or updated their Wills since the lockdown began.
Should I Make a Will?
It is reported that more than half of the adult population do not have a Will.
A Will is a legal document which expresses your wishes about who you would like to be in control and administer your estate and who you would like your possessions to go to.
Without a Will, when you die, your estate will be subject to the strict intestacy rules which dictate who is to inherit your estate. In this situation, it may be the case that your assets are inherited by someone who you would have otherwise not wanted to inherit.
There are many reasons why people do not make a Will, from thinking you’re too young, putting it off or not finding the time.
At Nockolds, we have a team of solicitors who are experts in drafting Wills, and we can assist you.
Should I Update my Will?
It is important to update your Will when something significant changes in your life.
This could be a marriage, divorce, death, birth of a child/grandchild or changes in your finances.
At Nockolds, we run a Will storage scheme where for £20 per year, you can store your Will with us, and we invite you annually to review your Will.
This is a great opportunity to reflect on your situation and tailor your Will according to your situation any recent developments in the law.
For more information on drafting your first Will, or having your Will updated, please contact us on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.