There is also the “I do not have the time” feeling. Life is really busy for all of us but the good news is that Making Your Will can be really quick and simple.
May be people sometimes think they are too young, but, as stated above, we are all mortal. The responsible thing is to get around to Making You Will.
What about the expense of it? Solicitors are pricey but somewhere like www.Willdrafters.com will prepare your Will inexpensively and professionally.
Still not convinced? Here’s what happens if you die without making a Will:
Dying intestate - The Intestacy Rules
The law decides who gets what if you die without leaving a valid Will. It does not matter what you have wished for or promised when you were alive because should there be no valid Will then who gets what is determined by the “Intestacy Rules.”
This is an outline to what happens:
If you are legally married:
If your estate is worth less than £125,000 then your spouse gets everything.
If your estate is worth more than £125,000 and you had no other surviving relative (eg children, grandchildren, parents), then your spouse will still get everything.
If you are legally married with children:
If your estate is worth less than £125,000 then your spouse gets everything.
If your estate is worth more than £125,000 then your spouse would get £125,000 and a life interest (that is the right to take interest on the remainder, but not the capital itself) in half of anything over this sum.
Your children would get half the sum over £125,000 immediately and be entitled to the other half on the death of your spouse. Should any of your children die before you then their children would be entitled to take their parent's share.
If you are legally married, have no children, but do have parents, siblings, grandparents, aunts, uncles:
If your estate is worth less than £200,000 then your spouse gets everything. If your estate is worth more than £200,000 then your spouse would get £200,000, plus half the balance. The remaining half goes to the other relatives in this order of priority –
- parents
- brothers,sisters
- half brothers,sisters
- grandparents
- aunts,uncles
- spouses of aunts,uncles
Your estate will be shared between the children. Should they die before you then their children would take their share.
If you are not lawfully married, have no children, but have parents or have had brothers, sisters, grandparents, aunts, uncles:
Your estate will be shared equally amongst them in this order of priority –
- parents
- brothers, sisters
- half brothers, sisters
- grandparents
- aunts, uncles
- spouses of aunts, uncles
If you are not lawfully married, and have no other relatives:
Your estate will go the Crown
“Common law" husbands and wives are simply not recognised under the Intestacy Rules.
Children, however, include natural, adopted and illegitimate children, but excludes step-children.
Making a Will is a very simple, quick and cheap job to get done. A good place to try is www.Willdrafters.com where you can leave your details and they will call you straight back.
Now, go and get that Will sorted! You’ll be glad you did.
