Do you have a written will? If "yes," then you are one of the few people who had the courage to do so. However, if you answered in the negative, be sure to read this article!
According to a recent study[1]only 9 out of 100 Poles over the age of 45 have made a will. Why, so few people choose to do so? As it turns out, as many as 42% of those surveyed have never thought about it and 23% believe they have nothing valuable to leave behind.
What does it look like for you?
Perhaps making a will is high on your ‘to-do list’, but so far the timing hasn't been right. Or perhaps you think you still have plenty of time to do it? Unfortunately, not everything in life can be predicted. We don't know what might happen to us today or in a few years' time. That is why it is always a good idea to be prepared for life's different circumstances, and a will is the only document in which you can decide what will happen after your death to your estate, for example. It is a form of insurance that will provide peace of mind not only for you, but also for your loved ones.
Wills are not just a matter of money
It is worth being aware that a will is not just for dividing up and passing on your assets to your loved ones. There are many other reasons for making a ‘last will and testament’. What are they?
In the document, you can appoint legal guardians for your children, give a portion of your estate to family, friends or charity, give away valuables to specific people, set up a special trust fund for your family, write down funeral directions or appoint someone to manage your possessions or direct your business.
Statutory succession, who inherits the estate in the absence of a will?
The order of succession is clearly defined in the Civil Code. The testator's children and the testator's spouse are the first to be called to inherit. They inherit equally, but the share which accrues to the spouse cannot be less than 25% of the total inheritance.
If there are no children, the spouse is appointed to the succession, as well as the parents, who inherit 25% of the total succession. If the testator has no children and no spouse, the entire succession goes to the parents. A further order of succession takes into account siblings, grandparents, stepchildren and the municipality and State Treasury. Making a will should be particularly important for people who are cohabiting. In the eyes of the law, a partner or cohabiting partner is a stranger to the deceased person.
In the absence of leaving a ‘last will’, the cohabitee does not inherit. This is regardless of whether there are children in the relationship.
How do you make a will so that it is valid?
If you decide to make a will, the easiest way is to use the support of a notary. Alternatively, you can draft the document yourself, bearing in mind a few important rules. The entire document must be written by hand. A will created on a computer and only signed is not legally valid. The document must be signed with your full name and date it. You need to know that anything below your signature will not be valid.
This means that if you want to add new ordinances, you will have to sign again. If you want your estate to be inherited by more than one person, it is important to write down what share each of the named persons is to receive. It is a good idea to appoint an executor in the document who will be responsible for ensuring that your ‘last will’ is executed correctly.
Any time is a good time to take care of your loved ones. So don't wait for life's next milestones, successes and the opportunity to multiply your estate - make sure you give your family and friends peace of mind now, even when you are no longer around. Remember that you can revoke your will or make a new one at any time. Inform your loved ones of its existence. And most importantly, keep a digital copy of your will and information about your assets in the safest place on the web - Safe & Trust. It is best to secure the original at a notary's office.
[1] Results of a survey conducted by Research Collective on behalf of the Open Forum Foundation in collaboration with legal and tax law firm GWW in 2022.
