It’s not anything we particularly want to think about, but it’s important that we do, and is something we should prepare for.
Making a will can be difficult, time-consuming and worrying when you have to imagine a time when you will no longer be around.
But making it clear your wishes post-death is important to allow your assets to go to someone or somewhere that you want, as you will no longer be around to decide.
What happens if you don't make a will?
If you’re a homeowner and don’t have a will, your assets will have to be shared following certain rules that are in place.
These are taken place by a local probate court, called intestate succession, which will decide who and how your property, money and possessions are inherited.
This includes the ‘rules of intestacy' and a person who doesn’t leave a will is called an ‘intestate person’.
The order of succession prioritises spouses, followed by the children of the deceased, then their parents, siblings and extended family as the last in order.
If you’re married or in a civil partnership
Married or civil partners will inherit under the rules of intestacy if their partner does not have a will in place.
This can only be done if they are legally married or in a civil partnership at the time of death.
Therefore, if you are divorced or your civil partnership has legally finished, you will not inherit anything through the rules of intestacy.
If partners were to separate ‘informally’, they can still inherit assets through the rules of intestacy.
Children
If the deceased has children and there is no surviving married or civil partner, the children will inherit everything.
If there is more than one child, everything will be split equally among them.
If there is a married or civil partner of the deceased, the children will only inherit if the property is of a certain amount, along with other inheritance.
If a child’s parents are not married or legally bound together, they can still inherit from a parent who dies intestate.
This is also the same for grandparents and great-grandparents who have died intestate.
When a court uses the intestate succession, it will go through the list of priorities as mentioned before in who they allow to receive the deceased's assets.
If a parent or a legal guardian dies without making a will stating who will look after the child(ren), the court will ask family members to volunteer as guardians.
The court will then give custody to who they decide is of best interest to the child.
If there are no family members to ask to volunteer as a guardian and without a will present, the children could enter foster care.
Who cannot inherit without a will in place?
These are the people who have no legal right to inherit when a person dies if they have not made a will:
- Unmarried partners
- Homosexual partners not in a civil partnership
- Relations of marriage
- Close friends
- Carers.
Making a will
However, if you make a legal will you can decide exactly who and how much of your assets go to who after you have passed.
When writing a will, you can choose to share your assets among your family or chose to give one person all assets to later share. This can all be made clear in your will.
All of your assets should be stated to inform officials who will be inheriting what.
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