Making a Will might seem like something you can put off, but the consequences of not having one can create unnecessary stress and financial challenges for your loved ones. When someone dies without a Will, they are said to have died ‘intestate’, and the law decides how their estate is distributed.
How are assets distributed?
In the absence of a Will, the rules of intestacy determine who inherits your property, money, and possessions. These rules prioritise close relatives, such as a spouse or civil partner. The spouse or civil partner will only inherit the whole of the estate if there are no children. If there are children, the spouse or civil partner inherits the first £322,000 and one half of the balance. The rest is divided equally between the children.
However, intestacy rules do not recognise unmarried partners, stepchildren, or close friends. These individuals receive nothing, regardless of your wishes.
What are the risks of dying intestate?
- Family disputes – without clear instructions, disagreements among family members can lead to legal battles.
- Unintended beneficiaries – your estate might go to distant relatives you’ve never met, instead of those you care about most.
- Higher costs and delays – the process of administering an intestate estate is often more complex, leading to delays and additional expenses.
- No guardian for children – if you have young children, the courts will decide who becomes their guardian.
How to avoid intestacy
The solution is simple – make a Will. A well-drafted Will allows you to specify who inherits your assets, appoint guardians for your children and reduce potential family disputes.
At PGM Solicitors, we specialise in drafting Wills tailored to your needs, ensuring your wishes are carried out and your loved ones are protected. Don’t leave it to chance, contact us today to start planning your future.
