Is It Still Worth Making A Will During A Recession

Shaun Parker
April 29, 2009 — 1,717 views  
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In these days of credit crunch, everyone is having to bite the bullet. We're careful how we spend our money, we are shopping around for everything from groceries to electronic products to get a bargain. Car sales haves slumped due to a lack of spending and don't even think about a holiday!

So, we are all feeling the pinch. Many people are just hoping they can hang on to their jobs and homes while we ride out the latest economic storm. It may seem a strange thing to think about during such times but we should all consider our wills and whether or not they are up to date or, indeed, if we have even made one.

You can never predict the way life will go and what little assets we have left, we certainly wouldn't want to fall into the wrong hands. The wrong hands being the administrative legal mess that envelops anything we leave behind when we shuffle off this mortal coil without leaving a will.

So, for those who have been fortunate enough not to feel the crunch, you will probably already realise the importance of wills. To leave everything you have worked so hard for to the people you know would either make the best use of it or be the most appreciative, is a personally fulfilling thing to do. To know that you can help your loved ones even when you are not here gives you peace of mind.

For the unfortunate masses that have been hit by the economic crisis, you still need to think on the subject of wills, particularly if you have family. Even if you are living in a rented property without a job, what happens if the unthinkable should happen to you as far as your children are concerned? Without any written agreement, children will often be placed straight into care until permanent arrangements with family can be sorted out legally.

If you have a family, then consulting a family lawyer is often a good way to ensure that, in the event that you should no longer be here to care for them, they will be well cared for by the person of your choosing - with their agreement of course.

Now this may all look a little morbid and it's often something that people don't want to face but at the end of the day the saying that the only certain things in life are death and taxes is so, so true. Hopefully, the former will be put off way into the future but it's not certain and therefore we need to do the right thing and ensure that no hardship is put on our loved ones in the way of caring for children or debts or even the sharing of assets among the appropriate people. If we have all our affairs in order throughout life not only do we gain peace of mind for now but we ensure we do what we can for our families long term. There are some cultures when it would be considered a dishonourable thing to not have provided instructions for our effects after we are gone. The UK doesn't really have such a hang up about it but surely if we love our families then providing for them or at the very least, covering the difficulties that may be left behind when we go, will at least leave them with one less thing to deal with while they are grieving.

Shaun Parker