Research shows that almost two thirds of UK adults don’t have a Will. That’s not to say they don’t know the importance of having one; it’s often just that they haven’t got around to it yet. Sadly, putting it off until tomorrow could mean your loved ones lose out on what you hoped to leave them in the future.
If you are married or in a civil partnership and die without a Will, your estate will be dealt with under intestacy rules.
The law states that the husband, wife or civil partner can keep all the assets (including property), up to £270,000, and all the personal possessions, whatever their value.
The remainder of the estate (above £270,000) will be shared as follows:
- the husband, wife or civil partner gets an absolute interest in half of the remainder
- the other half is then divided equally between any surviving children.
Whilst on paper this may seem acceptable, we have seen cases where the surviving spouse or partner is facing financial hardship as the bulk of the estate is tied up in property.
Where a couple are not married or civil partners, without a Will there is no automatic right of inheritance. Learn more
Your estate planning to-do list
- Arrange a FREE Will consultation with Sharon Rigden
- Make your Will or Wills
- Ask about putting assets into Trust
- Ask about making a Lasting Power of Attorney
- Enjoy the peace of mind
Your consultation will be a relaxed, informal session at a time and place to suite you (online or in person as preferred). Please be reassured that you are not obliged to act on the advice given during your consultation.