More than 55% of adults in the UK don't have a valid will, and this rises to 79% of 18-34-year-olds.
There are five things you should never do when it comes to a will, according to pensions and legal expert Clare Moffat of Royal London. She explained:
Don't keep putting it off
Writing a will often never makes it off the to-do list, but having a valid, up-to-date will is an important step in making sure your assets go to those you want to receive them. You may not think you have many assets to pass on, but if you own a house it's important to include it in your will. It's also important, if you have children, to express who you would like to be responsible for their care if something happened to you. Writing a will might seem like a tedious task, but Royal London's research found nearly nine in 10 people who had written a will thought the overall process was easy. Don't forget to update it
It's important to think of your will as a "live" document, and therefore one that reflects your stage in life. If you've recently been through a big life event such as marriage, divorce, or you've bought a house or had children, make sure your will reflects your new circumstances. Six in 10 people haven't reviewed their will in over a year, with three in 10 leaving it more than five years. Reviewing your will can be just as important as writing it. Don't ignore your living status
If you live with your partner unmarried - also known as cohabiting - it's even more important to keep an up-to-date will as you won't have the same automatic inheritance rights as those who are married. Having an up-to-date will is vital if you're cohabiting. Don't keep it a secret
While no one likes to talk about death, it's essential we have these uncomfortable conversations with our loved ones to avoid causing problems for them after you're gone. Once you've written a will, make sure your next of kin and your chosen executor (the person who carries out your wishes) knows where to find it. This applies to all of your financial documents. Don't forget your pension
People often use the term "estate" to mean everything someone leaves behind when they die, but your pension won't normally form part of your estate, so won't be covered by your will. Instead, you should make sure that you fill in a nomination-of-beneficiary form, so that the pension scheme knows who you would like to receive it. In some cases, the pension can be worth as much or even more than the value of assets in the estate.
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