Many people express reluctance to make a Will, for a variety of reasons:
- Too expensive
- Too complicated
- Seems/Feels morbid
- Assume that everything will go to spouse/partner/children etc anyway
Do any of these concerns add up to much?
- Not expensive
- Need not be at all complicated – they use relatively little jargon, and we always ensure it is fully explained
- Not morbid to want to ensure that those that you love and care for are properly provided for in the event of your death
- Not necessarily – intestacy rules carry some nasty surprises
Who can make a Will?
Who should make a Will?
What if I do not make a Will?
If you do not make a Will, then your estate (all of your assets at death) will be distributed according to the ‘Intestacy Rules. Broadly speaking, for all deaths that occurred after 1st October 2014:
- If you leave a spouse and children – £250,000 goes to your spouse (plus the personal possessions) and then half of the remainder. The children would then receive the rest of the estate on trust until they reached 18 .
- If you leave a spouse and no children then your spouse will take everything.
- If you leave children and no spouse then your entire estate would go to your children in equal shares.
- If you leave no spouse or children then your estate will be distributed according to the statutory order, starting with parents and then siblings and then down to wider family members.
As you can see, it is not safe to assume to whom your estate would be paid, should you die without making a Will. In particular, if you are unmarried, your partner (even if they live in the same house as you) would not automatically receive any payment from your estate at all.
We do not want to be alarmist about a subject as delicate as the passing away of a loved one; however there is a real danger that if you do not make a Will, then your family could be faced with a very difficult situation if the intestacy rules do not divide up your estate as you would have liked.
CP Law Solicitors are pleased to confirm we are members of the Certainty National Will Register – www.nationalwillregister.co.uk/.
For further information please contact: