The Importance of a Will

What if I die without making a Will – Rules of Intestacy

If you die without a Will, then the government will decide who will inherit your estate in accordance with the Rules of Intestacy. These were drawn up in the 1920s, and despite major revisions in 2014, may not accord with your wishes. Depending upon circumstances and the size of your estate, your spouse may end up sharing your assets with your children.

Married partners or civil partners inherit under the Rules of Intestacy only if they are married or in a civil partnership at the time of death. So, if you are divorced or if your civil partnership has been legally ended, you can’t inherit under the Rules of Intestacy.

The full laws of Intestacy depend on which part of the UK you lived in and can be found on the government website.

The Point of a Will

Amending an existing Will

Children’s / Grandchildren’s Trusts

Inheritance Tax

Probate (Estate administration)

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INHERITANCE TAX PLANNING, WILL WRITING, TRUSTS AND TAXATION ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

Pensions are a long-term investment. You may get back less than you put in. Pensions can be and are subject to tax and regulatory change; therefore, the tax treatment of pension benefits can and may change in the future.

Past performance should not be taken as a guide to future performance. The underlying value of investments, and the income from them, can go down as well as up, and you may not recover the full amount of your original investment.