Everyone should make a will, says expert

A personal finance expert has spoken out to say that everyone should make a will.

Paul Farrow wrote for the Daily Telegraph that younger people do not wish to think about death or the ageing process but should do, as everyone needs a will.

He said that sorting one's affairs is an essential step that must be taken to spare loved ones heartache and cost.

"Only with a valid will can you be certain that your estate will go to the right people. If you do not draw up a proper will, you risk depriving your spouse or partner of their home, increasing the inheritance tax (IHT) burden and leaving parts of your estate in the wrong hands," Mr Farrow added.

He said that there are many examples of why it is important to make a will, such as that of soul singer Barry White, who died without a will but with ten children, making dividing up his estate problematic.

In addition, the importance of making a will was also highlighted recently when Cleo Lane was left money in the will of her deceased husband, Sir John Dankworth.

Published by Hannah Carr