For those who live in Wales, a Will is something everyone knows they need, but many of us put it off until tomorrow. We’d rather not think about things like our funeral, our estate, and our heirs until it’s absolutely necessary, or in some cases, at all.
However, avoiding the subject like that only ensures that you may be forced into writing a Will at a time when you could be distracted by very pressing matters, such as after being diagnosed with a terminal illness.
What is worse, if you die before creating a Will, your estate will be left to the rules of intestacy. These rules are set out by the government and they dictate who will receive your estate, either whole or parts of it.
What if you are married but separated from your partner?
Intestacy rules state that if you have no children, and unless you are divorced regardless of the value of the estate that it all goes to your partner. Something that you may not want to happen if you are separated.
What if you have children and are separated from your partner?
Again, your partner gets up to £250,000, anything over £250,00 gets split in half. Half goes to the partner and the other half gets divided equally between the children.
What if I am not married but in a long-term relationship?
Intestacy rules do not recognise long-term relationships. If you have any children together the estate goes to them, otherwise, it will go to your next of kin.
This is just a brief overview of what can happen to your estate without a Will. Now, consider what happens when your children are involved, who will look after them?
We all think we are too young to die. but the sad truth is that it can happen to anyone at any time without warning. By having a Will written you know, that when the worst happens your estate, and even your children will be with the people that you wanted, not left to a stranger to decide following rules laid out by the government.
The Will Associates offer a personal, no-obligation appointment in your own home at a time that suits you. Contact us on 0800 9500 700 to book your appointment today.