Free Wills Month For Over 55s – Don’t Wait to Plan Your Legacy!

‘Life is for living’ we’re told, but one thing that is certain is that death comes to us all. Naturally, this isn’t something we want to dwell on but we do need to give it serious thought. Unfortunately many delay too long with 1 in 4 people aged 55 or over in the UK failing to have a recent will in place.

What Happens When You Die Without a Will?

A will details who is entitled to your money, property and possessions after you die and allows you to make those decisions yourself. But if you die without an up to date will in place, these decisions are out of your hands and the implications for your loved ones may not be the legacy you hoped to leave behind.

Intestacy is the name given to the rules of law designed to deal with situations where a will doesn’t exist, or where the will does not detail the distribution of all assets owned by the deceased. Intestacy is best avoided and can cause disharmony for your loved ones who are left behind.

In Northern Ireland, a surviving partner who wasn’t married or in a civil partnership with the deceased has no automatic right to inherit. This coupled with the fact that there has been a substantial rise in co-habiting couples over the last decade means putting a will in place has become crucial. In cases where the deceased was married or in a civil partnership, and has an estate worth £250,000 or less, everything will go to their husband, wife or civil partner.  Different rules apply if the estate value is greater than £250,000 resulting in a division of the estate with the children in a 1/3 to 2/3 ratio respectively thereafter.

October is Free Wills Month

Last year, research by Prudential and unbiased.co.uk revealed that 59% of Britons don’t have a will – one in four of these are aged 55 or over. Whilst life expectancy in the UK has increased somewhat beyond ‘three score years and ten’, leaving it this late is still taking a considerable risk.  Despite these worrying statistics, there is something we can do about it.

Free Wills Month is an initiative designed to tackle the large number of over 55s who don’t have a recent will in place. The initiative is sponsored by many well-known charities who cover the fees on your behalf.  Age NI is one of those charities. Luke Curran & Co are also working in partnership with Southern Area Hospice Services and Cancer Research UK whereby we are waiving our fee for a simple Will if you consider making a charitable donation.

Most UK charities rely on legacies for up to half of their income, and all would appreciate a gift in your will, however there is no obligation to do so. The charities do not receive a copy of your will.

Free Wills Month happens twice annually in March and October and enables those aged 55 or over to have simple wills written or updated free of charge by any participating solicitors based in England, Wales and Northern Ireland. Simple wills apply to most people, however if yours is a bit more complex your solicitor may ask you to pay the balance yourself.

The campaign covers both individuals and couples over 55, and in the case of ‘mirror wills’ – similar documents created on behalf of a married, unmarried or civil partnership couple – only one partner is required to be over 55.

Luke Curran & Co Solicitors, Newry are participating in the Free Wills Month initiative. Please contact us on 028 3026 7134 or email us to arrange an appointment to discuss what we can do to help you get your affairs in order now.