Gardner Leader

The Merits of Video Wills

Video Wills have been a hot topic in the news lately, after research commissioned by Remember a Charity found that 63% of the population would consider making one.

A video will is a recording of you reading your will, which allows your beneficiaries to have the opportunity of seeing and hearing you stating your last wishes and explaining the reasons behind the provisions in your will. This simply isn’t possible on the will document itself.

Robert Jobson, Partner in the Inheritance Protection Team at Gardner Leader believes that anything which encourages people to discuss what should happen once they have died is a step in the right direction. He comments: “Video Wills could be a great way of communicating thoughts, wishes and messages to loved-ones, but it is important to remember they are not legally binding. They must be made in conjunction with a written will.”

“It is a worrying fact that two out of three people who die in England die intestate. This can cause all manner of problems for families who are left to divide estates and assets according to the law, rather than what they ‘believe’ would have been the wishes of the deceased.

“If you have children, a will is absolutely essential. You need to appoint guardians to look after your children if you die before they reach 18. You also need to name trustees to look after your children’s inheritance until they reach the age at which you have stated they can receive it. If you do not have a will, your children will inherit at 18 which many people consider to be too young to manage what could be a sizeable inheritance.

“If you are in a relationship and not married or in a civil partnership, you must prepare a will. If you die without a will your estate will pass to your closest blood relatives under the rules of intestacy. Your partner could then be left in a very vulnerable position.”

Robert concludes: “Video Wills could have huge benefit, but even if all they do is get people thinking and encourage them to take action, then I’m all for them.”

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