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Why you need to make a will
If you fail to make a will then you are said to have died intestate and the people whom you would have wished to leave your estate may receive little or nothing whatsoever.
The intestacy rules, in force from 1st February 2009, may make for both surprising and disturbing reading and are briefly summarized below:
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BENEFICIARIES
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DISTRIBUTION OF ESTATE |
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Married person with no children
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First £450,000 any personal possessions and HALF the remainder to SPOUSE. Remainder balance to parents. If no parent is living then it goes to brothers or sisters or their children.
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Married person with children
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First £250,000 and any personal possessions to SPOUSE. Balance is held in trust with 50% life interest (right to income) to spouse and thereafter to children and other 50% to children immediately.
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Married person, no parents, brothers or sisters of the whole blood, nephews or nieces
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Spouse takes whole estate.
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| Unmarried person with children |
Estate goes to children at 18 or earlier marriage with gift over to grandchildren if child predeceases leaving children of their own.
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Unmarried person with no children
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Estate goes to the first of the following who are alive
1. Parents 2. Brothers and sisters of whole blood or their children 3. Brothers and sisters of half blood or their children 4. Grandparents 5. Uncles and Aunts of the whole blood 6. Uncles and Aunts of the half blood 7. The Crown |
Can you really afford to put off making your wills any longer?
SINGLE WILL FROM £125+VAT
PAIR OF WILLS FROM £199+VAT
Call Jeremy at Cuff & Gough LLP Solicitors on 01737 851 827 and have your wills prepared by a solicitor.
Useful Information
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Jeremy Cuff (Partner)
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What our customers say
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“Jeremy is very knowledgeable and helpful in his advice. I would recommend his services to anyone looking to write or update any will.”
Mark Golesworthy CEO Financial Planner. MG Wealth Management Ltd.
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