What if there is no Will?
If you die without leaving a Will, you are said to die intestate and your estate will be distributed in accordance with the Intestacy Rules.
The Intestacy Rules are a set of strict legal rules which dictate who will benefit from your estate, how much they receive and who can administer your estate.
Whilst the rules are due to be modified in October 2014 there will still be problems.
In particular the following cannot inherit under the Intestacy rules:
(a) a ‘partner’ who is neither married to nor in a Civil Partnership with the intestate;
(b) an ‘in-law’ or other relative by marriage to the intestate;
(c) a carer of the intestate;
(d) a close friend of the intestate;
(e) a charity favoured by the intestate.
For more information on the Intestacy Rules please see our question, ‘What is intestacy and what happens when you die intestate?’.
The Intestacy rules may not suit your family’s circumstances or your wishes.
Without a Will the administration of your estate can be complicated, protracted and expensive.
By making a Will it is YOU who decides what happens to your monies, property and possessions, that you have spent your life accumulating.
What is the next step?
Macks strongly recommend a face-to-face meeting with one of our specialist solicitors who will be able to explain things in closer detail and advise you on the importance of making a Will and ensuring your wishes and requirements are met.