If you do not make a will it may cause your family and friends to have a lot of problems.  An out-of-date Will also has the same effect.

If you do not have close family you may feel that it does not matter what happens to your property/money when you die but if you do not make a Will the State may benefit.  Would it not be better to make a Will so that friends or charities or organisations you support can benefit?

“Intestacy” is the legal term to describe the position where someone dies without leaving a Will.  The property of this person is distributed according to the rules laid down by Parliament in the “Intestacy Rules”.  It is only by making a Will that you can change those entitlements and ensure that your belongings and assets go to those people you want to benefit or to prevent anyone who is entitled under the “Intestacy Rules” from benefiting if you do not wish them to have any of your belongings and assets.

For information about “Intestacy Rules” click on the following:-

 www.youngandpearce.com/intestrules.htm

Does everything go to your husband and wife?

Many married couples think that if they do not make a Will their husband or wife will receive everything they own when they die.  This is not true.  The Intestacy Rules do provide something for husbands, wives and children but the rules may not be in your family’s best interests.

If I am not married will my partner be looked after?

You will need to make a Will to make sure your partner will be provided for.  If you do not do this and you die, your partner would have to go through the Courts under the Family Provision Legislation and this can be a lengthy, painful and uncertain process.

Will my children be looked after?

The Intestacy Rules may provide for your children but the arrangements may be far from satisfactory.  No account is taken of any special needs of individual children who may need greater provision than their brothers and sisters.

If your children are under 18 years of age, the Intestacy Rules hold their entitlement on Trust for them but, again, the arrangements may be from satisfactory.  Making a Will ensures that your children will be provided for in a more modern and flexible way.

When your children reach the age of 18, they will be entitled to be paid the whole of their entitlement.  You may prefer to delay the date on which your children would benefit from your belongings and assets and the only way for this to happen is by making a Will.

A formal document is needed to appoint a guardian to look after your children if they are orphaned under the age of 18.  One way of doing this is to appoint a guardian in your Will.
 

If I get divorced?

A new Will should be drawn up when contemplating divorce. 

If you do not update an existing Will, when Decree Absolute of Divorce is made by the Court the former husband or wife loses all rights on an intestacy and also any right to benefit under an existing Will.  In addition, their appointment as an Executor would cease to be valid.  This may be satisfactory but you should consider the following:-

You may want some of your belongings to go to your ex-partner or their family.
Your children may well now be your principal beneficiaries and proper provision should be made for them in a Will.

How can I give money to charity or friends?

You can only make gifts on your death to friends, charities or any organisation you may wish to help, by making provision in your Will.

How can I make a Will?

Newsagents sell printed ‘Will’ forms or you could make your own Will and it will be cheaper than going through a solicitor, but by going through a solicitor you will ensure that your Will is legal and correct.  Ask the solicitor for an estimate of what the costs will be. 

Remember, if you do not make a Will, or make an incorrect Will, there will be legal costs of sorting out your Estate.

For further information about making a Will, click on the following

 www.helptheaged.org.uk/Money/Will_Guide/Making_a_Will

 www.ageconcern.org.uk