What happens to your Estate if you die without a Will?
It is a common misconception that, if you are married, your spouse will inherit the whole of your Estate if you do not leave a Will, so you need not do one.
This is wrong. If you die without a Will, the law specifies who gets what and who is entitled to apply for permission to administer your Estate. If you are legally married or in a civil partnership at the date of your death your spouse or partner will inherit but they may only receive some of your assets rather than all of them depending on the size of your estate and whether there are any other people, such as children or grandchildren, entitled to inherit under the rules.
If you are separated but not divorced, your spouse or civil partner will still be entitled to inherit just as if you were still together.
If you are co-habiting, your partner will receive nothing.
Making a Will is a simple way of ensuring:
- Your chosen person administers your Estate.
- Your chosen beneficiaries inherit exactly what you intend.
- You lock in the benefit of valuable tax relief.
Dying without a Will is a financial risk which is not worth taking.
Make an appointment with one of our experts to ensure that you leave your Estate in order and in accordance with your wishes.