Pledge to make a will in 2021

Clarke Willmott has launched a new campaign to encourage people to pledge that they will make a will this year.

Recent studies have consistently shown over half of UK adults do not have a will. Launching the ’I WILL’ campaign, we hope it will encourage people to redress this worrying statistic and take steps to safeguard their family’s future wealth.

Carol Cummins, Private Wealth Team Leader, says that wills can become complex when dealing with significant assets and certain family circumstances.

“Whilst everyone with assets should have a will, the issue of not having a will quickly becomes more complicated when the value of assets increases. For example, many people who are in their mid-life and who have been property owners for 20 plus years are likely to have seen a significant increase in the value of their home, never mind any other assets that they have accumulated.

There are also complexities around less straight-forward modern families. With second or third marriages and blended families much more common now, a will drawn up by a specialist will ensure that your assets go to exactly those you wish.

An accurate and correctly structured will not only gives peace of mind, it can mean more money for your family in the future by saving on inheritance tax.

There is a difference, though, between having a will and having a good will and this is one of the key messages of our campaign. Having a badly drawn up, or DIY, will can sometimes be just as bad as not having one at all. A good will should be tailored to the wishes of the individual to ensure their loved ones get the maximum benefit from their inheritance and avoid causing undue stress for family later down the line.”

We are aiming to assist people looking into making a will by developing a free, online ‘Which Will?’ tool that prompts the user to think about what is important to them when making a will and recommends which will best meets their needs.

The most likely times for people to make a will are when major life events occur or circumstances change, including having a baby, moving house, starting a business or a deterioration in health.

Carol said: “It’s important to make a will as early as possible and to keep reviewing it so that it continues to be accurate and effective. We are calling on people to use the tool as a sign of their commitment to getting a will in 2021. It’s a great starting point in understanding what protection a good will can offer.

“Having a will is one of those tedious admin jobs that sometimes we never get around to, perhaps because we have no idea where to start. We really hope this campaign will give people the motivation, especially whilst we are all spending a greater amount of time at home, to just get it ticked off the list!”