No one wants to think about death, or losing their loved ones; it is a hard topic for many. However, according to Which?, a staggering 54% of people do not have a will.
The BEST Foundation advises that once you start paying into a pension or possessing assets, such as a house, a Will is essential.
With these startling statistics in mind, a Will is an important document to consider if you are no longer around, and want to ensure that your loved ones are looked after. It is assumed that if you do not have a Will, then if you’re married, or in a civil partnership, your partner is most likely to inherit your assets, and if you’re single or in a common law relationship, your assets will go to your child(ren).
However, you may have alternative wishes or requests, such as the money going to a friend or unmarried partner, and you want your decisions to be respected.
BEST is a new not-for-profit foundation that aims to educate society about the benefits of writing a Will, the implications of if a Will is not in place, and promoting knowledge of Estate Planning. BEST is aware of the critical absence of information and public education surrounding Wills.
The Foundation intends to change this whilst endeavouring to increase the number of Wills written with a tactical marketing campaign.
Charlotte Ponder, a BEST Advisory Board Member, states, ‘The BEST Foundation aims to alert the public that it is essential to write a Will. We need to remove the social belief that Wills should only be written when we are older. Once we start gaining assets, such as a pension, we want that to go to the right person.
We do not know what will happen in life, and if the unexpected does occur, we want to ensure our wishes are met and respected.’
The BEST Foundation will also be raising the profile of the Estate Planning industry and promoting best practices in the industry. This will be vital for many businesses.
The BEST Foundation utilises digitisation and provides its members with access to free CPD training, use of the BEST logo on websites and documentation, continuous guidance and support alongside being part of the BEST directory.
Membership of BEST for all those involved in the Will writing profession, whether that be a solicitor, Will Writer, or Estate Planner will be available on 6th June 2022.