Why more young people are recognising the importance of having a Will
A growing number of young people are considering making a Will often motivated by emotional as well as financial reasons.
Erin Atkinson, 27, rents a property in London and admits she doesn’t think of herself as particularly wealthy, but recently made a Will in what she described as an empowering process.
She has left her £7,000 car to her sister, stipulated that a gold necklace given to her by her partner will go back to him and made a charity she cares deeply about one of her beneficiaries.
In her Will she has also let her family know the poem she’d like read at her funeral and the drink she’d like served to guests.
Erin, who works in psychological research told the BBC: “For me, writing a Will wasn’t about expecting the worst. It was about taking responsibility and making life easier for the people I care about.”
Which younger age groups are making Wills?
The most recent National Wills Report surveyed 2000 people and found that although just one in five 18 to 24-year-olds have a Will in place, this figure rises to 33% of 22 to 34-year-olds.
Although many young people believe that having a Will is not for their stage of life, particularly when they are yet to own their own property and don’t feel they have much to leave their loved ones, an increasing number are recognising the benefits.
However, the National Wills Report also highlighted that one in four people across all age levels don’t know how to make a Will or why having one in place is so important for so many different reasons.
Why should you make a Will?
Even if you don’t have many physical possessions or a large amount of money in the bank, making a Will enables you to designate exactly what you want to happen to what you do have.
This can include savings accounts, digital assets like social media accounts and cryptocurrency, pets and funeral plans.
By making a legally valid Will, appointing an executor and naming beneficiaries, you take away the guesswork for those left behind and give them the reassurance of knowing they are carrying out your final wishes exactly as you set them out.
Why should I make my Will with a qualified solicitor?
According to the latest National Wills Report, 43% of adults choose to use a solicitor to make their Will recognising the security and safeguards this provides, compared with14% who used a DIY kit and 8% who used a will writing company.
Using a solicitor to make or update your Will protects against errors and ensures everything is done correctly to ensure validity.
A correctly drawn up Will is an inexpensive way of avoiding difficulties in the future for your family and friends after your death.
Solicitors, unlike Will Writers, have professional legal qualifications, are regulated by the Solicitors’ Regulation Authority and must have professional indemnity insurance. This means if something goes wrong, you have somewhere to go for redress and to claim compensation.
Get in touch
Wards Solicitors’ Personal Tax, Trusts and Probate team is recommended in the 2027 edition of the independent Legal 500 guide of outstanding legal professionals.
Our specialist and highly experienced Wills and Mental Capacity Team can advise you on making a Will that is best suited to you and your stage of life.
We offer a free initial appointment, can meet you in one of our offices or come to your home and always ensure the strict protocol for Will signings is followed to the letter.
Please don’t hesitate to get in touch with any member of the team.