Cornwall Living 2018

Where there’s a will

We talk to Matt Begley, Managing Director of Harris Begley Financial Planning, to find out about the importance to drawing up a Will.

Remarkably 58%* of all UK adults don’t have a Will. If you happen to count yourself amongst that number, you may be leaving your loved ones exposed to more risk than you realise.

Estate planning isn’t purely for people in or moving towards their retirement years. In general, not having a Will means that a person dies intestate and whilst their husband or wife (or registered civil partner) will be the first person entitled to the estate, unless a Will is in place, they may not inherit all of it. Additionally, without a Will the whole process of dividing the estate and distributing the inheritance is slowed down dramatically, which could result in your family suffering from financial worries, whilst also coping with the emotional turmoil of bereavement.

“If the couple aren’t married, the situation can be even more problematic”, explains Matt Begley of Harris Begley Financial Planning, as UK law doesn’t recognise a co-habiting partnership and therefore the surviving partner has no automatic right to inherit. “What is even more startling is that even if you divorced from your husband or wife many years previously, on your death your estate would revert to your ex spouse as, in the absence of a new Will, the Will drawn up whilst you were together remains valid.” For many people this single piece of information is enough incentive for them to get a new Will drawn up without delay. “Naturally, it’s important to change your Will as soon as possible after a divorce,” adds Matt.

In fact, even for a family with young children, a Will is vital to protect them in case the unthinkable happened where both parents sadly perished, in a car accident, for example. If a Will or Guardianship arrangement isn’t in place stating who will care for the children in the event of such tragic circumstances, the children are most likely to be put into state care, whilst guardianship by a relative is established by the court – irrespective of the loving family around them!

The majority of people delay making a Will as they believe their loved ones will automatically inherit or because they think having a Will drawn up is an expensive and complicated procedure. The reality is that without a Will in place, even the most seemingly insignificant assets may go to the wrong person or to the state. Taking sound professional advice on the best way to protect your assets and the inheritance of your loved ones is essential. Harris Begley Financial Planning works with Portcullis Legals to provide cost effective Will drafting services that ensure the entire process is simplified and easy.


The Regent Chapel Street, Penzance TR18 4AE

Office: 01736 366550

Mobile: 07795 144795

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