We have heard from many clients recently that one of the most compelling reasons for making a will (often, after delaying doing so for many years) is relating their own circumstance to something they’ve seen a friend go through or something they’ve seen in the news. One client said last week that her friend’s father had died without making a will and it was seeing the stress and angst her friend was facing, in addition to her grief, that made our client book an appointment with us to get her own will written. We thought it would be useful, therefore, to introduce a regular series of articles answering the question, ‘What would happen if…‘ to help people understand the importance of putting wills and Lasting Powers of Attorney in place by relating it to their own circumstances.
A simple place to start is by looking at what would happen if you died without having made a will : what would happen to your estate?
If you die without having a valid will in place, you are said to have died ‘intestate’. We have put together a flowchart showing how your estate would be distributed in accordance with the intestacy rules, if you were to die intestate :
To summarise, if you were to die without a will, leaving a surviving spouse (husband or wife), your spouse would receive your personal belongings, the first £270,000 of your estate and, if you have children, half of what’s left (the residue). Your children would receive the other half of the residue.
If you’d like to put in a will in place to ensure that your estate is distributed accordance with your wishes, please do not hesitate to get in touch.
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