Reforming Wills Law.
The Law Commission has launched a PUBLIC consultation (i.e. they want your feedback) on possible changes to the law on wills and testamentory dispositions.
The commission suggests that 40% of the UK population still do not have a will and part of the this is the difficulty in making one or indeed how complex they can become.
The law in England and Wales that governs wills is mainly derived from the Wills Act 1837. The law that specifies when a person has the capacity to make a will was set out in a case from 1870.
The commission suggests that the law of wills needs to be modernised to take account of the changes in society, technology and medical understanding that have taken place since the Victorian era.
The significant changes relevant to a review of wills law include:
What’s in the consultation?
The Law Commission is consulting on proposals to:
The Commission also wants to pave the way for the introduction of electronic wills, to better reflect the modern world.
Questions they have for the public:
It makes sense to make wills easier to access. It makes sense to bring them into the 21st century. We are not so sure about 16 year olds making a Will unless there is going to be a wholesale change to when you legally become an adult. That said, all children can have pension funds and Junior ISAs. In addition, 16 year old’s are able to control their own cash savings and even start new Help to Buy ISAs to save for a mortgage deposit. Perhaps, reform is needed.
The consultation is open until 10th November 2017. Visit the Law Commission website to offer feedback: http://www.lawcom.gov.uk/project/wills/