Is your Will worth the paper it is written on?
Not got a Will?
"I've not gotten round to making a will yet."
"Surely, I'm too young to make a will?"
"I'm fit and healthy; why do I need a will?"
You are not alone! More than 31 million adults nationwide risk dying without a Will. Yet, they have assets, equity, spouses, children and grandchildren.
What happens, then?
FACT-The Government (Not You) Will decide who inherits under 'Intestacy Law'.
This means that your estate may not pass to the people you want it to, such as a non-married/civil partner who is not entitled to anything and could be made homeless. Also, your spouse will receive the first £270k of your estate, and the rest will be split, half to your spouse and half equally between your children. You may not want your children to inherit at this stage; therefore, a Will is essential.
Children
Even more important than the financial aspects of dying without a Will, children under 18 who may be orphaned could be taken into care, even temporarily, until guardianship is established. To avoid this, you must appoint specific guardians in your Will.