Millennials – it’s time to make a Will

It is estimated that only 12% of people aged under 34 have made a Will.

However, many of these so called Millennials, people born between 1981 and 1996, share a property with their partner or are already married. Many will have started a family or are planning to start one.

These life events represent significant changes in their personal lives. Making a Will may be something they have never considered, perhaps because they think this is not something they need to worry about at the moment.

Talking about death can make people feel uncomfortable, but if someone dies without a Will this can cause problems for their loved ones.

A Will is a very important legal document that directs how your ‘estate’ will be divided.

Almost everyone, whatever their age has their own ‘estate’. This can include anything from the house you own, money, shares, cars, jewellery and even furniture. It can also include your digital assets like Facebook and email accounts.

For those with children making a Will could be one of the most important things you can do to protect their future should the unimaginable happen.

Without a Will your loved one’s financial future could be at risk as the law will decide who gets what. This could mean members of your family could receive less than you or they expected.

For example, if you are unmarried your partner is not automatically entitled to anything as unless you own your assets jointly, they might be disinherited under Intestacy rules. In the worst case this could mean your partner not being able to stay in the family home or not having enough money to bring up your children.

Our Wills and Probate team can help you make the right decisions in relation to your Will, to ensure it reflects your wishes and provides appropriately for those you care about most.

For more information call Caroline Wallis on 01256 854637 or email caroline.wallis@phillips-law.co.uk