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70% of the UK population do not have a valid Will. These are just a few reasons why it is important not to die intestate (without a will).
The Court of Protection will decide what happens to your children. This may not necessarily be who you would have chosen yourself.
It is wrongly assumed that your nearest and dearest will automatically receive these assets. It can be a long and complicated process to distribute these and not always to those assumed. This can cause rifts in the families where one party remembers being "promised" a particular heirloom.
Without a Will, this can be a particularly stressful time for families having to locate a lifetime of paperwork and arrange for payments to be made once Probate has been granted. This process could take years. Wouldn't you much rather they could sit back and celebrate your life?
Funeral arranging and organ donation for a loved one can be terribly difficult and painful for your family to agree as to what your last wishes might be. Why put them through that?
If you lose the ability to make decisions for yourself, a stranger could be appointed to make the decisions for you, even if your family knows what your wishes are.
A Lasting Power of Attorney is equally as important as a Will.
The Alzheimer's Society predicts by 2021 over One Million will have dementia in the UK, therefore many more families will battle with the Court of Protection.
Early dementia is increasing for the age group 25 - 40
Loss of capacity leads to bank accounts and investments being frozen - Even Those In Joint Names!
Your family will have to apply to The Court of Protection; this is a Long, Expensive and Stressful process!
Please note: We use a selection panel, which we refer wills and power of attorney too.too.