Why you are never too young to write a Will
Writing a Will is often seen as an exercise for a later stage in life perhaps following the diagnosis of an illness, or for the elderly as they approach their twilight years. For many young people, writing a Will is rarely a priority when compared to saving up for a house deposit or a growing family.
However, life is full of the unexpected. If someone suddenly passes away without writing a Will they are said to have died ‘intestate’. When this happens, the law sets who will inherit their assets (property, personal belongings and money). The consequences of this are far-reaching, and could mean their loved ones get nothing at all.
If there is no Will, assets will generally go to family members related by blood or by marriage/civil partnership. Your assets could pass to a number of people within your immediate family, but not outside of your family.
So, what could this mean for you?
We have experience of advising young people and families in a range of different circumstances. Below are some key things to consider based on your situation if you have not yet made a Will.
If you are part of a blended family
Blended families can be very vulnerable if there is no Will. Any children in your family who are not directly related to you by blood or adoption will not automatically inherit. This means that any step-children are not entitled to receive anything from you. What’s more, if you co-habit with your partner and have step-children but pass away without a Will, your assets will go to neither your partner nor your step-children. Instead everything you own will first go to your parents. It is important to be aware that intestacy goes by the legal definition of family. Those who do not fall under this are unfortunately not entitled to inherit.
If you are estranged from your family
Not everyone is fortunate to be close to their family. If you are estranged from your your family, but die without a Will, these family members may still inherit instead of a partner or loved one.