AS PEOPLE prepare to jet off on holiday they tend to become more fatalistic. That's one reason why inquiries about wills are higher at this time of year than at any other.
Yet national statistics suggest that less than half of us have a will. Other figures reveal that most people don't even think about a will until they're in their late fifties. But asked if they would do everything in their power to protect their fami
lies, anyone would give a resounding "yes". So why are we so reluctant to make a will?
A will sets out what you want to happen to your assets – your home, your savings, your possessions – when you die. If you have young children, it can state who will become their guardian and how they should be cared for, saving all kinds of unnecessary heartache in the event of your untimely death.
But although looked upon from this perspective a will is a practical document, many misconceptions still surround the whole process.
In most cases drawing up a will is very simple.
Imagine the scenario of a single parent dying unexpectedly. In the absence of a will, the family members left behind have no indication of whom that parent would like to care for the children, which can cause arguments over who is best suited for the job.
Children's school fees may suddenly be thrown into doubt, because the death of one or both parents without a will takes the division of all assets out of your hands and into the hands of the law.
The absence of a will also means the children would inherit any assets outright at the age of 16. Most parents think this is too young and want to delay this to a later age while still allowing the funds to be used for the child's education and care.
In such cases it is wrong to assume that your family knows what you want to happen, or that it is a simple process of transferring assets. Nor is it fatalistic to decide these things when fit and well – it just makes good sense. Having children, buying property, and even divorce impact on your will, so it is something to take very seriously and review regularly.
Going to a reputable adviser is vital. Citizens Advice recently warned against bogus will-writers in light of an increasing incidence of people being conned into parting with their cash by companies advertising will-writing on the cheap. In one case, a couple had responded to an offer of will-writing for £20 plus VAT, but ended up with a final bill for more than £1,000.
Such dishonesty is rare, but it does highlight the fact that care needs to be taken when drawing up a will.
A face-to-face meeting with an adviser has tremendous value, not least because giving a clear picture of your family background is important in order to anticipate all possible eventualities. Health, wealth and family relationships are sensitive subjects, so it's important that the adviser is someone you feel comfortable with, as well as professional.
Solicitors are regulated by the Law Society of Scotland, which means that they are qualified to draw up the will and undertake annual training to ensure that their knowledge is current. The Law Society of Scotland also has a complaints process if you are unhappy with the service you have received.
Ultimately, drawing up a will can undoubtedly raise many questions, but this should not put you off making a start. Few things in life give you such reassurance about your family's future protection.
• Lianne Lodge is a solicitor with legal, financial and property specialists Pagan Osborne
The full article contains 626 words and appears in The Scotsman newspaper.
