Since 1 January 1970 it has been possible for anyone aged 18 or over to make a Will.
Before that date, a Will made by someone younger than 21 years of age was not valid, unless it was a 'privileged Will' - i.e. one made by a soldier in actual military service or mariners or seamen at sea.
However, many people do not make a Will until later in life. In the event that they died without a Will their estate would be distributed in accordance with the Intestacy Rules.
It is becoming increasingly common for family members to explain the importance of having a Will to younger generations, especially if they are intending to leave them money in their own Wills!
Two of the most common triggers for younger people to make wills is when they buy their first home or when they have their first child. For many people their home is their largest asset, and it is important to specify who that should be passed on to. Once a child is born people often want to ensure that in the event of their death the 'correct' person would be able to step in as guardian. Not everyone wants their parents to take on the role, or more commonly, they do not want their in-laws to take on the role!
Two of the most common triggers for younger people to make wills is when they buy their first home or when they have their first child. For many people their home is their largest asset, and it is important to specify who that should be passed on to. Once a child is born people often want to ensure that in the event of their death the 'correct' person would be able to step in as guardian. Not everyone wants their parents to take on the role, or more commonly, they do not want their in-laws to take on the role!
If you or someone you know need to discuss a Will please call me on 01992 422128 or email Sharon@ghslaw.co.uk
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www.gardenhousesolicitors.co.uk
Tel: 01992 422 128
Email: info@gardenhousesolicitors.co.uk
The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
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