Will Writing
If you die without leaving a will your estate will be distributed under The Rules of Intestacy:
If you are married
1. If your estate is worth less than £250,000 your spouse gets everything
2. If your estate is worth more than £250,000 your spouse gets the first £250,000 and a life interest in only half of the remainder - your children get the rest
3. If you do not have any children, your spouse gets the first £450,000 plus half the balance - your parents get the rest
4. If your parents have passed away, your spouse gets the first £450,000 plus half the balance - your brothers and sisters get the rest
If you are not married and have a partner
1. If you have children, they share everything - Not your partner!
2. If you don't have children, your parents get everything - Not your partner!
3. If your parents have passed away, your brothers and sisters share everything - Not your partner!
4. If you don't have any brothers and sisters, your aunties and uncles get everything - Not your partner!
5. If you don't have any aunties and uncles, everything goes to the Crown (Government) or the Duchy of Cornwall if you reside in Cornwall - Your partner gets nothing.
For the sake of very little time and effort a legal Will can be put in place so your estate is divided exactly as you would want. A will can also be used to reduce your IHT liability. I offer a very simple and inexpensive process of Will writing. A typical joint Will can cost as little as £75 and I even offer discounts to my existing clients. There really is no need to put this vital part of estate planning off to a later date.
Will writing is not regulated by the FSA