Wills… Do I really need one?
Writing a will is one of those things that many of us put off. I suppose we don’t really like thinking about our death that much. Funny that.
It can also loom in our minds that writing a will is a big deal. Hours spent with a solicitor and your partner arguing over the minutiae of who gets what.
And if you’ve got young children, couples sometimes put off a will because they can’t decide who would be guardian if both of them were to die.
But writing a will first and foremost will often save your surviving partner or family a significant degree of stress arising from the red tape of dying intestate (that is, without a will).
If a person dies intestate and has assets in their sole name then the surviving partner may have to apply for “Letters of Administration” in the estate, rather than obtaining a Grant of Probate.
While both are not insignificant steps, Letters of Administration takes longer, is more expensive and requires additional and sometimes costly steps which aren’t necessary in obtaining a Grant of Probate. The additional time and money are naturally burdens on a partner at a difficult time which can be easily avoided by the drafting of a will.