Catherine Gilmartin discusses Wills in a time of Covid

January 2021

In this our second Manx lockdown, whilst we are juggling care of our elderly parents (at a safe distance) and/or working from home coupled with home-schooling our children we still can make time to take the first step to making our wills or updating our existing ones. 

Prior to our current lockdown, the Law Society in England and Wales released the results of a survey that it had undertaken during lockdown number one. Over 1,000 members of the public took part in the survey. According to this survey only 7% of respondents made or updated their will during lockdown.

Worryingly, over half (59%) of those surveyed said they did not have a will whilst just 29% said they have an up-to-date will which reflects their current intentions.

It is illuminating to set out the main reasons given for having not made a will:

• not having anything of value to leave to their loved ones (24%)
• not finding the time (20%), and
• thinking they were too young (18%)

From a will writer’s perspective, it is understandable why individuals may come up with these seemingly persuasive reasons not to make a will. However on further examination it is clear they are not as valid as they may first appear.

1. Not having anything to leave to loved ones:

The danger here is that assets may be overlooked. For example, statistics suggest that at least two thirds of the population in England and Wales (where the survey was carried out) own their own home and yet it’s often the case that the family home is overlooked as ‘an asset’ when considering a will. Furthermore, the survey is a snap shot in time. Some of the interviewees are likely to receive gifts and inheritances from their extended family whilst others may have failed to consider less conventional forms of assets such as heirlooms, life insurance policies and digital assets.

In addition to the above, making a will is not just about making provision for family members. It is about controlling the destination of your estate on your death. Currently the intestacy rules in the Isle of Man do not allow an estate to devolve to friends or non-married partners or their children.  Moreover making a will also provides an opportunity for an individual with children under the age of 18 to appoint guardians in the event of both parents dying before their children reach adulthood. As well as ensuring your wishes are carried out, a will is also an important tool in avoiding family disputes and divisions after your death.

2. Not finding the time to make a will

Admittedly, in practice, this reason does come up a lot. People stall or defer making their wills until some serious life event triggers them to do it, such as the death of a close family member or friend, a life changing medical diagnosis, an accident or simply having a conversation with their advocate after they complete a house purchase. In some cases, it may then be too late to make a will because an individual has lost or is rapidly losing his/her mental capacity, or, more likely, something else comes up that takes priority.

It is eminently possible to have your will drafted and executed during this pandemic. Instructions can be given by email and confirmed over the phone or by video. It is possible too, to have your will executed in a perfectly safe and socially distanced way and, under the current restrictions, advocates are still permitted to travel to you for this purpose.

3. Thinking they were too young to make a will

Unless you are not an adult, you are never too young to make a will. This is especially the case where young couples have bought their first home or have very young children. Of course, even young people aren’t immune from tragedy, whether that be through illness, accident or otherwise. They are more likely to take on extreme sports, travel to places off the beaten track (after the pandemic of course!) and, frankly, even the less adventurous of us never know what’s around the corner.

Conclusion

Everyone should make a will (and an enduring power of attorney – but that’s another article). The alternative? Your wishes may not be followed and your loved ones will be left with your intestacy and all of the uncertainty that brings with it.

A will is ambulatory in nature: it walks with you through your life. It can be updated and reviewed as life itself changes and only comes into operation on death.

We make time to make other investments in our lives. Why not make time to make your will? Not just for your own peace of mind but ultimately a worthy investment for that of your dependents and loved ones.

E: cgilmartin@longandhumphrey.com

W: https://www.longandhumphrey.com/team/catherine-gilmartin/

Long & Humphrey, Advocates and Notaries Public, The Old Courthouse, Athol Street, Douglas, Isle of Man, IM1 1LD

Long & Humphrey offers services across a range of legal specialisms including: Corporate & Commercial, Employment, Employment-based and Points Based System (PBS) Immigration, Insolvency, Licensing, Dispute Resolution, Public law (including Doleance / Judicial Review), Private Client, and Property.

Long & Humphrey is the trading name of Long & Humphrey Advocates Limited, registered in the Isle of Man under Company Registration Number: 131896C