What have we been talking to clients about this month
One of the common themes we have been discussing with client this month is – Writing a Will
Without a will, your assets will be distributed in accordance with the intestacy rules. Married partners, civil partners and some other close relatives can inherit under these rules. This means that, if you have surviving children, grandchildren or great-grandchildren and your estate is worth more than £270,000, your partner will inherit:
• all your personal property and belongings, and
• the first £270,000 of your estate, and
• half the remaining estate.
This could mean that your surviving partner’s home may need to be sold in order that your other close relatives can inherit their share of your estate.
This may not reflect your wishes. Therefore, writing a will should be a priority, especially if you are not in a marriage or civil partnership, as common-law partners have no automatic right to inherit anything at all under the intestacy rules.
In addition, a well written will can avoid or minimise tax issues for all concerned.
We strongly recommend that everyone has Will and whilst we are not able to write this for you we have a strong network of Family Solicitors and Will Writer’s that can help you with this. Just drop us a line and we will be pleased to introduce you to someone.