Research suggests that around 31 million UK adults do not have a Will in place, and that around 60% of those that die each year, die ‘intestate’ (without a valid Will).
For the majority their estates will be below the inheritance tax threshold, and wealth will probably go directly to their expected beneficiary. For some, this will leave their estate at risk of big tax bills and the money going to their wrong people! There is a lot of misunderstanding about who gets what when a person dies without a Will. Even those that have a Will may find it doesn’t do what they intend, with ex-wives’ inheriting accidentally, or children losing out when a second marriage invalidates an old Will.
It is critical to have a Will that is valid (prepared properly, witnessed and signed) that does what you want it to do. This should be reviewed every 3 to 5 years, or whenever there is a major change (in wealth, relationships or your health).
Our review (coupled with a Wealth Review) explains what will happen on your death, and works with your lawyer (or one we can recommend) to ensure that if this is not what you want, that a new Will is drawn up that does do what you want.