Do I need a Will?
If you are considering whether or not you should make a Will, it is important to know that if you die without leaving a Will then your loved ones may not inherit what you would like them to.
When someone dies without leaving Will, they are said to have died 'intestate'.
There are 'Intestacy Rules' which dictate who inherits your money and possessions if you die without making a Will or have not properly dealt with all of your estate in your Will (i.e. partial intestacy). These rules mean that the people who you want to inherit may not do so.
Some risks of not making a Will are the following:
- If you are not married, your partner will not inherit
- Your spouse or civil partner may not inherit everything
- Your estate may go to people who you do not wish to inherit
- If you have children, you will not be able to choose who will act as guardians/trustees
- Your funeral arrangements may not be what you would have wanted
Please click here to view our Intestacy Flowchart which illustrates who would inherit under intestacy.
For expert help and advice on Wills and Intestacy contact mosshaselhurst on 01606 74301.