Friday 4 January 2019
Around 27 million adults in the UK do not have a will. Dying without a will means the law will run its course, often against your wishes.
The formal term for passing away with no valid will is ‘dying intestate’. If this happens your money, possessions and property will be divided up according to the law, and your loved ones could stand to inherit nothing.
If you are unmarried and die ‘intestate’, your partner would by law receive nothing. If you have children this can complicate things further, as the law often places them above your partner in the pecking order, and if you have children from a previous marriage they could be completely passed by.
Dying without a will means you have no control over who stands to inherit your assets. If you pass away with no close relatives, this could pass automatically to the government.
However, there is a simple solution. Will writing kits can be a cheap alternative option, but do you really know the long term implications of the document you are preparing? Thomas Horton LLP can draft a professional will for you, with the minimum of fuss. We offer home visits, reasonable charges and thorough advice, to ensure that your loved ones are taken care of after you die.
The sooner you plan ahead, the sooner your assets will be secure for the future.
• You can specify exactly who your benefactors are – leaving what you want to whom you want
• You can nominate your children’s guardians – if you have children under 18 and the worst does happen, you need to plan ahead for their future.
• You can state who your executors are – choosing the people you trust will make sure your will is properly adhered to.
• You can set out your wishes for specific possessions – making sure those keepsakes pass to the loved one it will mean the most to.
• You can write a joint will – not only does this align your wishes with each other, it’s also possible to get a discount.