Writing a will can ensure your assets are passed to those you love once you die (Image: Getty Images)
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There are many myths and misconceptions about writing a will, which often lead to confusion and frustration.
Research found that 68 per cent of people say they are too young to make a will and around 20 per cent think they have no assets to pass on.
But while these may be common thoughts, they are actually myths.
There may be several reasons why you might consider writing a will, Birmingham Live reports.
For example, you may have children, specific funeral wishes or you may not be married to your partner.
Below are the top ten misunderstandings about making a will and why it is important to do so.
There are some misconceptions about writing a will
(Image: Getty Images)
Not having anything to give
Some people think wills are just for reach people who have multiple properties or bank accounts.
Even if you do not own a property or have millions saved, any smaller amounts of money in the bank, home accessories or things you are attached to can be worth giving to those you love.
If you write a will, you can make sure those assets are passed on to whoever you want when you die.
Relatives will divide the assets by themselves
Without a will, there is no certainty that your family will be able to split your assets as you hope.
Your estate would pass according to the rules of intestacy, which means the government will write a will for you.
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Wills can't be changed once written
If you write a will, you can always make changes, revoke it or write a new one at any point
It is a daunting process
The process of writing a will may seem daunting, but it does not need to be saddening.
Making a will can give you peace of mind knowing your affairs will be in order.
You will also be sure that your family or those who are important to you will be taken care of.
The process does not need to be saddening
(Image: Getty Images)
Only elderly or ill people need to write a will
Wills are for everyone over the age of 18.
A will is also an important and useful document to appoint guardians if you have minor children.
Making a will is complicated
The law firms we have partnered with for Acorns Make a Will Month are professional and highly skilled will writers that can help you through every stage.
The benefit of seeking professional help is that they will write the will and deal with HM Land Registry for you.
If you get help from a professional, writing a will is not complicated
(Image: Getty Images)
Everything will go to my partner
Without a will, it is not guaranteed that your spouse will inherit your entire estate and assets.
A process through the rules of intestacy will determine the distribution of your assets.
How much you are worth and whether you have children are factors that will also affect the process.
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No need to review my existing will
Even if you have already created a will, it is useful to keep it under review every three to five years.
This is to make sure that it still matches your personal circumstances and wishes.
My debts will die with me
Unfortunately, this is not true. Any outstanding debts will need to be paid from your estate upon your death.
By creating a will, you can direct where your assets will pass on to, so they don’t end up being sold to cover debts unless absolutely necessary.
If I have a power of attorney, I don’t need a will
A lasting power of attorney only allows your attorneys to handle your affairs during your lifetime and will end upon your death.
The arrangements of your will are then only valid when you die therefore, creating a will enables you to decide who deals with your estate.
Acorns Children’s Hospice provides specialist palliative care for life-limited and life-threatened children and young people across the West Midlands.
For more information about Acorns Make a Will Month and to start the will writing process, please visit https://www.acorns.org.uk/make-a-will-month/