Importance of making a Will
Did you know that three quarter of parents in the North West have no legal guardian in place to care for their children in the event of their death?
Research commissioned by SFE (Solicitors for the Elderly) and Pabla & Pabla solicitors shows 76% of parents in the North West have no legal plans in place to make sure their children are looked after, should the parents die.
According to the research, parents in Greater Manchester are almost completely unaware of the risks of not identifying a legal guardian in a will. Only one in ten (13% of) parents in the North West understand that social services or the courts can step in to decide what happens to your children if you don’t have a will in place.
SFE, a membership body of over 1,700 UK solicitors specialised in advising people planning for the future, is calling on parents to make sure they have an updated will in place ahead of Update Your Will Week 2023 (23rd – 29th January).
Suzy Bhaker, head of the Private Client department at Pabla & Pabla solicitors (who is an accredited member of SFE,) explains:
“It’s shocking how many parents don’t have a will in place or haven’t appointed a legal guardian for their children. Godparents don’t count as legal guardians, so to avoid the risk of the courts deciding what happens to your children, you really should make a will and update it every five years.
“It’s crucial to keep your will up to date and take legal advice when life-changing events happen, like getting re-married or having children. Our research shows that four in ten wills in the North West are out of date, and many people Greater Manchester don’t have one in the first place.”
The new research commissioned by SFE and carried out by Censuswide also reveals:
- Around half of respondents in the North West (52%) have experienced a life changing event, such as getting married, divorced or having a child, since they last updated their will – meaning it is likely to be out of date.
- Over one fifth (22%) of respondents in the North West know someone who has been affected by something going wrong with a will.
- One fifth (19%) of respondents in the North West believe it’s possible to update a will by amending the original document and initialing the changes – it is not possible to legally update a will this way!
Pabla and Pabla Solicitors recommend reviewing and updating your will every five years, or when a major change in your life occurs that impacts you or your loved ones, such as divorce, marriage, a new birth or even death in the family. Having an up to date, well drafted will is crucial in ensuring your wishes are carried out in the way you’d like when you die.
To find out more about wills, or to find your local SFE accredited solicitor, visit: www.sfe.legal
SFE (Solicitors for the Elderly) was founded in 1996 and is a national organisation of more than 1,700 lawyers in the UK who support older and vulnerable people. SFE accredited members receive expert training and best practice guidance to keep them up to date with developments in the sector.