Do I need to make a Will or can I rely on the Intestacy rules?

Be careful though before relying on the rules:

Your assets may not go to who you want them to go to

The order of entitlement depends on the value of your estate and which members of your family survive you. The general principle is that the estate is shared by the relatives closest to you. A spouse or civil partner has priority over all other family members but may have to share your estate in certain circumstances.

Loved ones are overlooked

The intestacy rules do not account for modern family dynamics, including second marriages, children from previous relationships, divorces, stepchildren, estranged family members, separated partners, unmarried partners or cohabitees.

Friends, carers, relatives by marriage, neighbours, charities whom you may have wished to have benefitted from your estate will also not be entitled under the rules of intestacy.

Your partner has no control and gets nothing

If you have a partner but you are not married, your partner will have no right to manage your estate and no entitlement under the rules of intestacy.

A Will ensures that your assets are distributed according to your wishes on death.

The wrong person is in control

If you die intestate, the rules also dictate who has the right to administer your estate.

The person who is legally entitled to act as administrator may not be willing or able to do so, due to age or ill health. You may for your own reasons consider them unsuitable.

You have to be at least 18 years old to act as an administrator. If a minor child is the beneficiary under the rules of intestacy, the person with parental responsibility for that child would be entitled to administer the estate which you may not consider necessarily appropriate.

If more than one person is entitled under the rules of intestacy, they may disagree or may be unable to work together causing disputes.

After careful thought you can nominate the person(s) who you would want to administer your estate in your Will. You can also include a replacement Executor if they are unable to act.

A guardian is not appointed for your children

The intestacy rules do not determine who would care for your children in the event of your death.

In a Will you can appoint guardian(s) giving you peace of mind that your child(ren) will be looked after by someone you trust.

Delays

There can be delays in organising the funeral, registering the death, securing assets, settling debts if it is not clear who has the right to administer the estate.

Stress for the family

It can be difficult to cope with grief without the added complexity of managing an intestate estate.

A Will simplifies the process for your loved ones, it provides clear instructions of your wishes. This can reduce potential for disputes and ease the probate process.

Your beneficiaries can feel confident too that this is what you really wanted, they are not just benefitting because of a legal technicality and that you have been organised and thoughtful enough to do what you can to prepare for them.

Inheritance tax

A well drafted Will can help to minimise your exposure to inheritance tax, maximising inheritance for your beneficiaries. Careful planning can structure your estate in a tax efficient manner utilising any exemptions and reliefs available to you.

Wills

Consider how the people close to you would manage without you and have a professional Will drawn up that provides for them as best you can. Spending time now to make a Will could avoid future complications and expense to the estate. You should seek the advice of a solicitor specialising in this area of law to help guide you.