Have you made a Will?

Having recently attended a webinar, I was surprised about some of the statistics about the increase in the number of cohabiting couples.  Not only that, a large percentage of unmarried British couples do not want to get married.  Unfortunately, many people are under the mistaken belief that unmarried couples who live together have the same rights as married couples. 

Common law marriage is a term that’s often used for this arrangement, but it’s legally recognised in the UK.  What this means is that your partner and family are not protected if you do not prepare a Will.  In addition, you do not have the advantages of the inheritance tax allowances that are available to married couples.  Current legislation favours those who are married or in civil partnerships upon death, as there is no inheritance tax to pay in these situations.

There is a great deal of misinformation and misconception about what happens to your assets if you die without making a Will.  Unfortunately, this happens all too frequently and we receive a number of enquiries where people have died without making a Will and fail to provide for their long-term partner.  When this happens, the rules of intestacy apply and then your estate could end up passing to relatives who you do not want to benefit.

Having a well thought out and drafted will is an easy, relatively inexpensive and simple solution to this.

Please contact our team of legal experts for further advice.