Butare you fully prepared? Do you have a Will and is it up to date?
You’ve booked the flights, arranged your travel insurance, made sure your passport is valid and you’re all set for your well-earned break.
However, before you jet off on holiday, it may be sensible to put in place a Will, if you do not have one already – or perhaps you need to update your Will to make sure it reflects your current circumstances and wishes.
You may think that you are too young to make a Will or don’t have sufficient assets to justify having one. The reality is that anyone with children, property, business interests or other assets should make a Will.
If you are going to be travelling on holiday with your family on the same plane, on the same coach, or in the same car, then who would inherit in a disaster scenario? It is wise to make a Will to put your affairs into good order and safeguard the future of your hard-earned wealth for you and your family.
A Will sets out what should happen to your money, property and personal possessions (such as your car or jewellery) after you die.
Not having a Will in place means that your property and assets pass in accordance with the laws of ‘intestacy’. This means that your estate may pass to family members (usually blood relatives) that you do not have any contact with or do not get on with – and it could leave your loved ones in financial difficulty.
Our advice is to make sure that you have a Will in place before you travel to give you peace of mind before you jet off on holiday. We can often arrange Wills at short notice. If you’re going on holiday in the next few weeks, it is best to start preparing your Will soon.
For individual advice and assistance contact our Wills, Probate and Trusts Team to find out how we can help.
Michelle Gavin TEP is a Partner and Head of the Wills, Trusts and Probate team at Band Hatton Button LLP.