If a person is to die without a Will, this is known as dying Intestate. There are many added implications and costs when a person dies Intestate. It can cause much unnecessary stress and heartache for those left behind.
Essentially, when someone dies without a Will, determining the distribution of their assets then becomes the responsibility of Probate Court. The person or people who will inherit your Estate once you die may not be those that you would have chosen. This situation can cause great upset and conflict long after you have gone.
Who inherits your assets if you die without a Will?
The intestacy rules outline who will receive a person’s assets if a Will was not made by the deceased. Currently, Intestacy rules don’t allow unmarried partners, friends, carers or relations by marriage (i.e. step children) to inherit. This means that those closest to you may be left with nothing if you die without a Will.
In the eyes of the law, it won’t matter if you are much closer to your best friend and estranged from your sister. They will look at your surviving blood related family to determine your next of kin. It is likely that this person (or people) will inherit everything.
The thought of your assets being left to someone you wouldn’t have chosen is not only upsetting – dealing with an Intestate Estate costs both money and time. It can take months to work out what needs to be done and can involve instructing a tracing agent to build an accurate family tree, which all takes time and costs money.
What can I do to avoid dying Intestate?
Over 50% of adults in the UK do not have a Will and risk dying Intestate. Having a professional Will written is relatively cheap and simple to do. If you consider the stress it can alleviate for you and your family, it really is priceless.
You should contact a qualified Family Law Solicitor who will walk you through the process of writing your Will. You will need to consider the following:
- Who will look after your children or pets
- Who you would like to inherit your property or assets
- You will then need to name your beneficiaries
- You should also consider alternative beneficiaries; in case someone passes away before you
- You will need to appoint an Executor who will handle your estate after your death
- Consider writing a Lasting Power of Attorney – this is a legal document which will designate a person of your choice to handle your finances and affairs should you lose mental capacity
- If you own a business, you will need to outline specific instructions as to how you would like your business to proceed
- And finally, you may want to list your wishes for your funeral
Who should I contact to write my Will?
You should seek legal advice from a fully qualified Family Law Solicitor when writing your Will. A Specialist from our Family Law Team would be more than happy to assist you in the Will Writing Process. They will help you to create a checklist for making a Will, ensuring that your wishes are taken care of.
If you would like more information about our Will Writing Services, we welcome you to call our friendly team of Family Law Specialists on 0161 402 0213.
Alternatively, you can email Aisha on ash@tenlegal.co.uk