As discussed in a previous blog post, there has been a surge in demand for Wills in light of the Covid-19 pandemic, with more people taking this time to plan for the future and reflect on how they would want their estate to be left should the unthinkable happen.
Read More On Wills In Covid-19: https://www.sinclairlaw.co.uk/wills/making-a-will-during-the-covid-19-pandemic/
One consideration that may have crossed your mind is what happens if I don’t have a Will?
Would the people I want to benefit be entitled to my estate?
The answer to this question is found in the Intestacy Rules.
Intestacy is the legal term for when someone dies without leaving a Will.
Under these rules, any spouse or civil partner you leave behind would be entitled to your personal possessions and a statutory legacy of £270,000, with any money left over being split in half between your spouse or civil partner and any children you leave behind when they are 18.
This clearly would not suit everyone.
What if you wanted to leave your watch to your grandson, or your car to your daughter?
What if you cohabit with someone but you are not married? What if you have stepchildren who you treat as your own and want to be treated the same as your children on your death?
There would be no automatic entitlement if there was no Will.
The best way to ensure that your wishes are met is by making a Will.
Sinclair Law have procedures in place which mean that we can draft your Will in the most efficient way whilst adhering to the current Government rules.
If this is of interest, or you have any questions about estate planning in light of the pandemic, please do not hesitate to contact one of our experts on 01625 526 222.