MILLENNIALS – IT’S TIME TO MAKE A WILL
MILLENNIALS – IT’S TIME TO MAKE A WILL

8 January 2019

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 [email protected]

 

Disclaimer

This article is current at the date of publication set out above and is for reference purposes only. It does not constitute legal advice and should not be relied on as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.

Have more questions?
Our expert solicitors are here to take the worry off your hands.
Please call us or email and we’ll get back to you as soon as possible.
News
Use it or lose it – making use of your annual allowance
Use it or lose it – making use of your annual allowance

The Annual Allowance With the end of the current tax year fast approaching, anyone wishing to use their 2023/24 (and potentially their 2022/2023) annual allowance in relation to gifts o ...

More
Phillips Law urges people to get writing a Will off their to-do list.
Phillips Law urges people to get writing a Will off their to-do list.

This week (4 – 8 March) is Update your Will Week Phillips Law is encouraging people to consider the risks of not having a Will following new research revealing nearly half of UK adults ...

More
PHILLIPS LAW ACTS ON THE GRANT OF THE NEW AA HEADQUARTERS AT PLANT, BASINGSTOKE
PHILLIPS LAW ACTS ON THE GRANT OF THE NEW AA HEADQUARTERS AT PLANT, BASINGSTOKE

Phillips Law is delighted to have advised Mactaggart Family & Partners and Longstock Capital Limited on a multi-million-pound agreement for lease with The AA to move their headquart ...

More
Deliveroo worker status judgment: implications for employers
Deliveroo worker status judgment: implications for employers

In our January update we reported on the Supreme Court decision in the long running dispute between Deliveroo and the unions representing many of its riders. You can read the full Judgm ...

More
New right to unpaid leave for carers
New right to unpaid leave for carers

From 6 April 2024 carers will have a day one right to request one week’s unpaid carer’s leave per year. Draft regulations for the Carer’s Leave Act 2023 provide the detail on this new r ...

More
Employment Update – January 2024
Employment Update – January 2024

Welcome to the new year! As we embark on 2024, it’s crucial to stay informed about the latest developments in employment law. Here’s a snapshot of key updates and changes th ...

More