Who needs a Will? Why make a Will?
Making a Will is Particularly Important If:
You have young children.
The will should be used to nominate a legal guardian, and set up financial arrangements for the children should both you and your partner both die.
You and your partner are not married or not in a civil partnership.
As the intestacy diagram shows, the law as it currently stands would leave your partner with NO bequest at all, unless the assets are held in Joint names.
Your estate is significantly over the current nil rate band.
If you do not make a will, you can see from the diagram, that your estate may not all go to your spouse.
Intestacy rules flowchart
How the intestacy rules could affect you and your family. The new rules, which were introduced in October 2014, are summarised in the Intestacy diagram which you can view as a pdf here.
Don’t put it off any Longer
– A will is not expensive, however it does determine where your estate goes
– If you are living with a partner in a house, they may be forced out – is this what you really want to happen?
– A will can always be changed
– Do seek good legal advice