Why Do I Need a Will?
By having a Will that clearly states who should get your property, possessions, and money when you die, you can prevent unnecessary upset which is already a very difficult time for your family or friends.
There has been cases of some parents have had to sue their own family members, including their children, to get a share of their partner’s estate when their unmarried partner dies, as the law states that in this situation, the children get everything.
The laws are different in England, Scotland, Wales, and Northern Ireland, but there are several commonalities wherever you live.
If You Don’t…
- If you are in a civil partnership, your partner isn’t legally entitled to anything of yours when you die.
- If you are a married couple, your husband or wife will probably receive most if not all of your estate.
- Your children might not get anything (except if you live in Scotland). This holds up even if you are separated, but not if you’re divorced.
- Children or grandchildren, and how much they are legally entitled to, depends on where you live in the UK – but if you ‘ve made a Will, you can decide this yourself.
- The Inheritance Tax that your estate has to pay might be more than it would have been if you had a Will made.
- If you happen to die with no living close relatives, your whole estate automatically belongs to the Crown or the government by law, and which is called bona vacantia.
It’s important to note that any assets that you own jointly with someone will not pass under the intestacy rules but will pass by survivorship to the surviving joint owner.
And you need to be careful, and you need to own the asset as ‘joint tenants’ and not as ‘tenants in common’ for survivorship to apply.
Take control today and ensure your loved ones are protected by engaging the services of a professional Will writing service, second to none.
