The Will to keep your New Year's resolution

By Lenore Rice

Around half of us in Northern Ireland and the rest of the UK are expected to make resolutions for the New Year - only a small percentage will actually act on those resolutions.

For many of us it is a list comprised of the things we know we ought to do, but just don't want to, or things we said we would do last year (and the year before). Surveys suggest that New Years resolutions are becoming much more finance orientated than before. For some that involves improving how they plan for the future - savings, pensions, inheritance tax, and the dreaded 'Will'.

Making a Will is one of the few activities that defies logic when it comes to statistics. The majority of people regularly respond to polls by saying that making a Will is a necessity - an important measure to safeguard the best interests of you and your family. However, every year the statistic rarely changes that only 30 per cent of adults in Northern Ireland and the rest of the UK actually have a Will.

It is understandable why so many of us put it off - no one wants to spend time contemplating their death and how their family will cope without them. We tell ourselves we are have plenty of time, that we have nothing really to give, that it all goes to the right person anyway, and other things to avoid sitting down and thinking how we would like our assets divided out in the event of our death.

Setting aside how it can take longer for an estate to be sorted when there is no Will, and that you may pay more inheritance tax as a result, the truth in modern day society is that our intentions for our belongings are becoming increasingly more complicated.

Have you divorced, or separated from a partner you have children with. Do you have children with a new partner? Would you want your ex-wife to gain something from your estate after you die. Do you want your children to receive something, but at an age when they are old enough to be sensible with it, or on the condition they do something else. Do you have a family inheritance, business, or heirloom - what is to happen with your interest in those?

When it comes to sorting out your assets there are questions to consider. A will writing solicitor can guide you on them, and can help you put your wishes into writing.

If you're reading this far it is probably because you have at some point considered the need to make a Will. Go one step further. Contact us today for a free Wills information pack by calling 0800 840 9293 or submit a form online for a callback by clicking here.