Posts tagged “intestacy”

Like this doll's house, you home contains everything that's important so make sure you protect yourself  if you are planning equity release.
Market analysis by mortgage broker, Henry Dannell, shows that homeowners in the UK have already released up to £1.4billion of equity in their properties so far in 2022. 
 
Also known as later life mortgages, over 12,500 of us have chosen to use some of the value of our property to reduce our bills, improve our quality of life, or help a family member. That’s an increase of more than 20% compared with the same period in 2021. The figure could reach 50,000 by the end of the year amounting to almost £5.6billion of equity. 
People are now more than ever realising that their affairs should be put in order. And with the situation as it currently is, there is a sharp rise in people suddenly jumping on the bandwagon and setting themselves up in their bedroom as Will Writers, offering cheap online Wills. So why should you choose someone like Angela Jane Will Writing over a online cheap will? 
People are asking whether, because of the requirement to have two witnesses, it is possible to create a valid Will during the current coronavirus lockdown. 
 
Currently, your Will must be in writing and be signed and dated by you or by another person ‘in your presence and at your direction’. If someone else signs your Will then it is a good idea to keep record with your Will of why this was necessary. 
 
You will also need two or more witnesses who are present when you sign your Will. Witnesses must be over 18, they must not be partially sighted and must have the mental capacity to understand what they are doing and what it means. The reason two independent witnesses are essential is to prove, if needed, that your Will was properly executed. 
 
The obvious solution during the current lockdown might be to ask people in your house to sign your Will, but they can only do this if they and their spouses are not beneficiaries of your Will. They would lose their inheritance by witnessing your Will. 
We usually expect a Will to be a paper document that has been signed with a pen and ink, but there are some more unusual ways to do it. 
 
Some of them perfectly acceptable and legally binding, but others could be invalid, leaving you intestate
Two out of three people in the UK risk having strangers make decisions about who benefits from their estate after they die. 
 
A survey by Remember a Charity has found that 68% of UK adults haven’t made a Will
 
Many people put off writing their Will because the have made assumptions about when they should do it and who will inherit.  
 
Here are just some of the reasons. 
As the summer comes to an end, you might start dreaming about moving somewhere warmer, where you can enjoy year-round sunshine. 
 
If this is something on your wish-list, then you should consider making your Will before you move to your dream home in the sun. 
Whether it’s your first purchase, or one of many, buying a property is a big investment that will be included in your estate. 
 
Although you aren’t required to have a Will in place when you buy a property, it’s important to be clear about what you want to happen to it when you die. 
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