Most people know they should make a Will, yet many put it off for years because they believe it is something they can deal with later in life, or that it simply does not apply to them. Unfortunately, those misconceptions can leave loved ones facing unnecessary difficulties at an already difficult time.
Here are five of the most common myths we hear.
Myth 1: “Wills are only for wealthy people”
A Will is not just about money. Whether you own a property, have savings, personal possessions, or dependent children, a Will allows your wishes to be clearly recorded. It can set out who should inherit your estate, who should care for your children, and provide for the people and causes important to you. Without a Will, the law decides how your estate is distributed, which may not reflect your wishes.
Myth 2: “I’m married, so I don’t need a Will”
Many people assume that everything will automatically pass to their spouse or civil partner. Whilst a spouse or civil partner may inherit some or all of an estate under the intestacy rules, this will not always reflect a person’s wishes. The position can be particularly complex where there are children, blended families, second marriages, or specific gifts. A Will provides clarity and reassurance that your estate will be dealt with in accordance with your intentions.
Myth 3: “I’m too young to make a Will”
No one likes to think about the unexpected, but life can change very quickly. Making a Will is not something that should be reserved for retirement. If you own a property, have children, have savings, or wish to decide who should benefit from your estate, it is worth considering a Will regardless of your age.
Myth 4: “My family know what I want”
Even where wishes have been discussed openly, misunderstandings can arise after someone dies. Family members may remember conversations differently or disagree about what was intended. A professionally prepared Will provides certainty about who is responsible for administering your estate and helps ensure your wishes are followed. It can also reduce the risk of confusion and disputes at an already emotional time. If you die without a Will, the person entitled to administer your estate may not be the person you would have chosen yourself.
Myth 5: “Once I’ve made a Will, I never need to look at it again”
A Will should not be viewed as a document to be completed and forgotten. Significant life events such as marriage, divorce, the birth of a child, the death of a beneficiary or
executor, or changes in financial circumstances can all affect whether a Will continues to reflect your wishes. Regular reviews can help keep your planning up to date.
Notably, the Inheritance Tax rules are due to change from April 2027, meaning that pension funds may become subject to Inheritance Tax as part of an individual’s estate. Therefore, we encourage anyone with a pension to review their Will and estate planning arrangements to ensure they remain appropriate.
Planning for the Future
Making a Will is one of the simplest and most important steps you can take to protect the people and causes that matter most to you. It provides peace of mind and can make things much easier for your loved ones.
Many people who review their Will also consider putting a Lasting Power of Attorney in place. Whilst a Will deals with what happens after death, a Lasting Power of Attorney allows trusted individuals to assist with financial or health and welfare decisions during your lifetime should you lose the ability to make those decisions yourself.