If you have children this is why you need to write a will

 

Have you ever heard of sideways disinheritance? No? Me neither!

I was chatting to a company called Bespoke Support Network this week and found out that unbeknown to over 75% of the population your children could be disinherited when you die.

Now if you’re like me and everyone else, you probably weren’t aware that this was even possible and I wish it wasn’t.

When couples decide to make a will they often think that it’s best to keep things as straightforward as possible. Most of the time they will decide to leave everything to their spouse or partner in the event that they pass. This is usually so that their partner can continue to live in the same house and have access to all their finances.

The wills that people write often state that whoever dies last is to leave all their assets and estate to the children.

I wish it were this simple too! Unfortunately this isn’t always the case and can be far more complicated.

People don’t tend to consider the possibility that after the first person has died; the other partner could decide to alter their will. They could decide to leave their assets and estate to someone other than the children. This is particularly well known when there is a new spouse or partner.

Sometimes it can be an accident. When the surviving partner decides to remarry, the old will is automatically cancelled and the partner may not consider this. Following this, with no valid will in place, if the partner was to pass away the new spouse would be entitled to everything under the rules of intestacy.

Bespoke Support Network have recently partnered up with Winston’s Wish, a charity that supports the process that children go through when they are bereaved. #SupportingWishes is the campaign they have started; it focuses on the charity and the work they do for the children that have lost parents. It also aims to make more parents aware so that they can begin putting measures in place to ensure their child’s future is protected.

Over the next six months BSN will be offering completely free advice to the British public about making a will and life insurance.   Should you wish to do this through Bespoke Support Network they will also be donating 10% of all proceeds to Winston’s Wish to help as many children as they can.

If you would like to take advantage of what BSN are offering please call 0300 303 3441 or email info@bespokesupportnetwork.com.

 

If you have been affected by this article there is support out there. Please call Winston’s Wish or the Samaritans.

 

Photo courtesy of Shutterstock

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  • I didn’t know this could happen so it’s very good to know. In all honesty, I haven’t written a will – mostly because I have no assets to leave – but certainly something I need to kick my arse into gear about and sort out. This post was a very timely reminder xx