International Women’s Day on 8 March is an opportunity to recognise the achievements of women and reflect on the steps that help build financial independence and security. One practical but often overlooked step is making a will. We highlight why making a Will matters for women.
At Do It Legally, we regularly advise clients on the importance of having a valid will in place. However, many women across the UK still do not have one. This can leave important decisions about their estate to be determined by law rather than by their own wishes.
Why Women Are Less Likely to Make a Will
There are a number of reasons why some women delay making a will. Women are statistically more likely to have taken career breaks for caring responsibilities or worked part-time, which can lead to the perception that they do not have sufficient assets to require a will. In practice, a will is relevant for anyone who owns property, has savings, or wishes to provide clarity for family members.
Women also tend to live longer than men. As a result, many women will at some stage manage family finances or inherit assets from a partner, making estate planning particularly important.
What Happens Without a Will
If a person dies without leaving a valid will, their estate will be distributed according to the rules of intestacy. These rules set out a legal order of inheritance, which may not reflect an individual’s personal circumstances or wishes.
For example, the intestacy rules do not take account of unmarried partners, and they do not allow individuals to decide who should act as guardians for their children. In families with more complex arrangements, such as blended families, this can lead to unintended outcomes.
The Benefits of Making a Will
A properly drafted will allows individuals to decide how their estate should be managed and distributed after their death. It can also provide reassurance to family members by reducing uncertainty at an already difficult time.
Through a will, it is possible to:
- specify who should inherit assets and personal belongings
- appoint guardians for minor children
- choose executors to administer the estate
- include gifts to charities or other causes
- help minimise potential disputes between family members
Seeking legal advice when preparing a will can also ensure that it is valid and reflects an individual’s circumstances.
Taking the First Step
International Women’s Day is a reminder that financial planning is an important aspect of long-term security. Making your will is one way to ensure that personal wishes are clearly recorded and that loved ones are protected.
If you would like advice about making or updating a will, the team at Do It Legally provide legal documents and services from Brighton and Hove and would be happy to assist. Our specialists can guide you through the process and help ensure that your will reflects your wishes. Making a Will Matters for Women.
This article is for general information only and does not constitute legal advice. For advice relating to your specific circumstances, please contact a member of our team.