53% of adults in Blackpool don’t have a will according to statistics from research carried out by Willaid.org. That’s over half the population of adults who have no control over what happens to their estate when they die. The best case scenario if you don’t have a will is that your descendants inherit what you’d like them to have by accident. The absolute worst case scenario is that everything goes to the state.
If you die without a will then the intestacy rules will apply to whatever you leave behind. Under these rules only your husband, wife, civil partner – or a few other close relatives – can inherit your assets and possessions. Partners will usually inherit the first £250,000 of the estate and half of the remaining estate, as well as all personal possessions of the deceased.
Any other living relatives, such as children or grandchildren will split the rest. However, it’s worth noting that children and grandchildren won’t inherit anything under the intestacy rules if an estate is not worth more than £250,000, as anything under that goes entirely to a partner.
More than just assets
Perhaps one of the most often overlooked aspects of the necessity of making a will is what it allows you to do outside of the transfer of assets.
For example, if you have children then the only way you can specify who should take on the role of their guardian is to make a will. The same goes for pets or other dependent relatives – if you don’t leave a will then there is no record of your wishes and no binding legal document that requires those wishes to be carried out. While many of us avoid the question of making a will because we don’t want to think about death, it can actually be an enormous relief to know that those you love will be taken care of when you go.
To speak to Solicitor in Blackpool regarding your will please click here or call 01253 629 300.