FINANCE
Paul Lewis
WILLS / MONEY NEWS
November is Will Aid month, so if you haven’t made a will or yours needs updating, now is a good time to do it at a fraction of the cost, says our expert
Every 14 minutes someone in their seventies dies without a will. That is over 37,000 people a year. A survey for the Society of Trust and Estate Practitioners (STEP) found that about one in four people of that age have no will and about a quarter of those without a will do not intend to make one.
Having no will means your loved ones do not know what you want to happen to your money, property, possessions or memorabilia after your death. Even if you have told relatives what you would like, without a legal will your estate is divided up according to strict rules that almost certainly won’t reflect your wishes.
So, it is very important to make a will and to do it properly. And there’s no better time than now, as this month – November – is Will Aid, when solicitors across the UK make wills for people and charge them nothing, though they do ask for a donation to charity.