If
you don't have a Will, there
are rules for deciding who inherits
your assets, depending on your
personal circumstances. The following
provisions apply only in England
and Wales, the law differs if you
die intestate (without a Will)
in other jurisdictions.
If you are married or in a registered
civil partnership and your estate is
worth £125,000 or less: Everything
goes to your husband, wife or civil partner.
If you are married or in a civil partnership
and your estate is worth over £125,000:
your husband, wife or civil partner won't
automatically get everything, although
they will receive:
• personal items, such as household articles and cars, but nothing used
for business purposes
• £125,000 free of tax or £200,000 if there are no children;
• A life interest in half of the rest of the estate (on his or her death
this will pass to the children or as detailed below) The rest of the estate
might be shared by children (or if any have died by grandchildren)
or parents, brothers or sisters.
Not everyone is aware that, if you
are in a long term partnership but
it is not a marriage or registered
civil partnership, you won't automatically
get any share of your partner's estate,
if they die without making a Will.
If they haven't provided for you in
some other way, your only option is
to make a claim under the Inheritance
(Provision for Family and Dependants)
Act 1975 which can be a complex and
costly process.
If you would like to make a straightforward
Will (no tax planning advice or trusts)
please call Miss Hooper on 0845 270
4999 or email bethhooper
@barnesmarsland.co.uk. Our current
charges are £95 + VAT for a single
Will and £150
+ VAT for a pair of Wills.
If you would like more information
abut making a Will or more specialist
Will making or tax planning advice,
please call Jacqui Miles on 0845 270
4999 or email jacquimiles@barnesmarsland.co.uk |