Thursday, 20 July 2017

What Happens to Your Estate if you Die Without Making a Will

If a person in the UK dies without leaving a last will and testament, the term is intestate, and in that case, a very strict set of ancient laws come into effect, and these might result in your estate being administered in such a way that would not be to your liking. The intestacy laws have been in effect for more than a century, and although they are very specific, the laws are rigid and often do not facilitate the correct distribution of a person’s estate, or the decision rests solely with the next of kin.

British Law

The UK laws state that in the event of intestacy, and there is no apparent heir, then the deceased person’s estate in handled by the Crown. In the event there are no children or grandchildren, then the entire estate is left to the spouse or civil partner. If there are children or grandchildren, the spouse or civil partner receives the first £250,000, and the remaining amount is inherited by the children or grandchildren when they reach the age of 18. The Internet can help if you are trying to find the right legal assistance, and whether you are looking for legal wills in Essex, or any other UK county, a simple online search will point you in the right direction.

Tax Benefits

By writing a will, it is likely your family would benefit more by paying less inheritance tax, which is why it is essential that you receive the right legal advice when composing your will. We all pay our taxes while we are working, and we also have to pay a certain amount on our estate when we die, and by talking to a legal expert, it might be possible to minimise this.

Will Executor

Every person that writes a will must appoint an executor, a trusted person who will administer your written instructions in the event of your passing. Of course, this person must be willing to act on your behalf, and can be any consenting adult of your choosing. The task allotted to the executor would include the following:

  • Taking care of funeral arrangements.
  • Administering the will according to the deceased person’s wishes.
  • Informing immediate family members and also others that are named as beneficiaries.

Online Legal Help

One might be forgiven for thinking that finding a will writing expert might be a problem, but in actual fact, there is a company with branches across the British Isles, who will send a representative to your home, and they will discuss your options with you, during a free, initial consultation. Typically, a will is completed within 30 days, and with their expert help, you will have peace of mind that your final wishes will be carried out. This avoids expensive and time consuming visits to legal offices, and with friendly advice, your will can be written in the right language, to avoid any misunderstandings.

Online companies can really make the process a smooth experience, and by visiting you at home, composing your last will and testament has never been easier.

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