If you do not make a Will there is no guarantee that your assets will be passed to your chosen beneficiaries when you die.

 

Dying without a legally valid Will is called “Intestacy” and the law sets out what will happen in these circumstances.

 

In most cases your spouse or civil partner will be the main beneficiary of your estate, but depending on the value of your assets, children may also benefit. However this means that some assets will be held on Trust which might not be what you would want. Married couples may be appalled to learn that if they have no children and their spouse’s estate is worth more than £450,000, then they will have to share the inheritance with their spouse’s parents or siblings.

 

The Law of Intestacy has not changed much since 1925, but society has, and it is fair to say that this aspect of the law does not reflect the way many people live today. Other than your spouse or civil partner the law only provides for blood relatives (including adopted children) to inherit. There is no automatic right to inherit for live-in partners, step-children and relatives through marriage such as your spouse’s niece or nephew, despite the fact that people in these categories may have been your closest companions and even have looked after you for many years.

 

If you would like to talk about how the Law of Intestacy affects you, or better yet make a Will please contact Gail Donaldson in Milton Keynes, Paul Ashby in Luton or Vivienne Hamilton or Fiona Halsey in Harpenden