What is a Will?

A Will is a legal document in which you state who you would like all your worldly goods to go to when you die.

Do I need a solicitor to make a Will?

No. However, if you do not use a professional you run the risk of having an invalid Will in which the Intestacy rules will then apply.

You may also create trusts which were not your intention or your Will may be poorly worded meaning a court may misinterpreted your intentions. You also run the risk of not providing for dependents or leaving gifts that fall out side of the estate and therefore may not pass to your intended beneficiary.

What happens if a person dies without a last Will? 

The Intestacy rules will apply. This means that if you are married your spouse will receive the first £250,000 and a life interest in half the remainder (a life interest is the income from the capital only), the remaining half will pass to your children.

If you are not married then your partner will receive nothing.

Please see diagram for more scenarios

Image result for intestacy rules 2017

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