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The importance of making a Will following changes to the Intestacy rules.

20/05/2015 by Mandy Preece

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We often hear how important it is to have a Will, they ensure that our financial wishes are upheld, so that loved ones receive an inheritance. Despite this, it's one of those jobs that many of us don't seem to get round to doing or there is a perception that creating a Will is very costly. There is also plenty of scare-mongering which can make you feel a little uneasy and is not helpful. Ultimately, making a Will is one of the best decisions you could make for your loved ones and it needn't take too long.
Creating a Will can be affordable
In fact, having a basic Will drawn up by a solicitor can be quite affordable and will be worth the world to your family if the worst should happen. It is now more important than ever to make a Will, as October 2014 saw the change of Intestacy rules, which many people do not seem to be aware of. Intestacy simply describes a status of having 'no valid Will'.
Did you know that your spouse or Civil partner will not automatically inherit your Estate if you have children?
New rules which were published October 2014 state that the surviving Spouse or Civil partner could only receive the first £250,000 and half of the balance. The other half of the Estate will be inherited by the children of the deceased.
If this is not your wish, this can easily be rectified by stating in your Will who will inherit your Estate and while you’re drawing it up you can also include other matters which are important to you and how you would like them to be dealt with.
Poole Waterfield understand how sensitive making a Will can be and can put you in touch with a number of trusted, professional and approachable solicitors we have worked with for a very long time.
To make an enquiry about a Will service, please call myself Mandy Preece on 01384 455505 or speak to any member of the Poole Waterfield team.
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