Why Make a Will?
Many people put off making a Will because they quite naturally do not wish to think about their own death. However it is the most certain thing in your life that one day you will die and this factor must be faced.
Failing to make a Will could mean that your assets are distributed against your wishes and can also result in anguish for survivors, delays in distributing assets and possible Inheritance Tax complications.
The Law sets out quite clearly the rules of distribution in the event of an intestacy (i.e. when there is no Will) and does not take into account the Deceased’s particular wishes or relationships.
The Law can also prove difficult where your family consists of step-children or you are part of an unmarried couple living together. The Law makes no provision for surviving partners where there is no Will and it can be very difficult to establish contributions and intentions where one partner has died. In such circumstances it is important at the outset to record (if appropriate by separate documentation) the ownership of property and in particular the amount of each share.
It is essential that couples living together both make Wills particularly because of the lack of protection referred to above. If one or the other already has a Will then this should be checked to ensure it is appropriate for the couple’s present circumstances, especially where one or both of the partners has pre-existing obligations such as children from a previous marriage or relationship.
Department Members
Christopher Coleman
Christopher Coleman has worked with Morgan Clarke since 2008 and is a member of the Wills and Probate team. Here we advise our clients on the preparation of wills, lasting Powers of Attorney and the Administration and winding up of Estates. We offer advice and assistance not only to clients who walk in to our two high street practices but also through promoting ourselves with Cancer Research and various other promotions.
