Do you wish to benefit loved ones after your passing or do you have a specific charity or charities in mind who you wish to benefit?
Making a Will is crucial to ensure your wishes regarding your estate are fulfilled. Without one in place, there is a possibility that those you intend to benefit receive nothing. When someone dies without a Will, the UK rules of intestacy govern who inherits one’s estate.
The statutory rules on intestacy focus on familial members alive at the time of your death, with first consideration being given to surviving spouses and then issue (legitimate, illegitimate or legitimated children, as well as children adopted by the deceased). If both categories do not apply, the rules then look at surviving parents, siblings of the whole and/or half blood, grandparents, aunts and uncles of whole blood and finally, the Crown.
Estates passing to the Crown are rare. However, a recent enquiry concerned a distant family member of the deceased who had no Will in place at the time of his death. He had no surviving spouse or children and no other surviving family members who met the criteria under the intestacy rules. During his lifetime, the deceased had a close relationship with his distant relatives and had professed that he was going to make a Will to leave his estate (over £1m) to these relatives.
In this unfortunate circumstance, the deceased’s estate passed to the Crown, which was wholly opposed to the deceased’s wishes.
This case reminds us of the importance of making a Will and not relying on the rules of intestacy. The absence of a Will can also increase the time and cost of administering an estate.
The Private Client Team at Warners is accredited with the Law Society’s Wills and Inheritance Quality scheme quality mark, which reflects best practice for Wills and the administration of estate advice. Regardless of the size or complexity of your estate, please do not hesitate to contact our friendly team to assist in preparing your Will.
This article is for general information only and does not constitute legal or professional advice. Please note the law may have changed since this article was published. We do not accept responsibility or liability for any actions taken based on the information in this article.
