If you’ve been left wondering who will inherit your estate following your death if you don’t leave a will, read on. This week Prestige Tax and Trust Services asks; who inherits if there is no will?
Why Do You Need a Will?
If you want to ensure that your money, property and possessions (estate) pass on to the people you love once you’ve left this earth there is only one guaranteed way to do so. Make a will.
Learn how to make a will in England and you learn how to craft a legal document designed to set out what you wish to happen to your estate – who it gets passed on to – when you die. This is why it’s vital you make a will. It’s the only way you can choose who will inherit your estate when you pass away.
What are the Rules of Intestacy?
This leads us to ask; who inherits your estate if you’ve died without leaving a will? Usually the government and the courts will decide who inherits your estate if there is no will.
With no guidance outlining your wishes they have to resort to a set of established legal guidelines to determine who will inherit your estate if you die without leaving a will. These are called the rules of intestacy.
Who Inherits Under the Rules of Intestacy?
This spurs us to ask, who inherits under the rules of intestacy? It can be subjective, yet there’s one guiding principle that tends to dictate who will inherit under the rules of intestacy. Only married/civil partners and some other close relatives are eligible to inherit. Essentially the government rely on next of kin to determine who will inherit your estate if you don’t leave a will.
This means that if you die without leaving a will, your estate could be inherited by your husband/wife, civil partner, children, grandchildren, grandparents, aunts/uncles, cousins etc. Yet it can’t legally be inherited by any unmarried partners, relations by marriage, close friends, carers etc.
Prestige Tax and Trust Services
This is why it’s so important that you make a will. If you want somebody to inherit a part of your estate who wouldn’t qualify to do so under the rules of intestacy, the only way to do so is to ensure you make a will.
If you want to make sure the right person inherits your estate after you pass away, why not let Prestige Tax and Trust Services help you make a will? We have the legal expertise necessary to ensure that your estate passes to whoever you wish when you leave this earth.