Are you aware of the risks of intestacy?
Recent research has revealed that many people are unaware of the risk of intestacy.
- 34% were unaware that unmarried partners (regardless of length of relationship) are not entitled to anything in the event of a partners death.
- 21% were unaware that if a person is separated from their spouse, but not divorced, they are still entitled to most (if not all) of the estate.
- 60% were unaware that recipients of an intestate estate may have to pay more Inheritance Tax than if a Will was in place.
- 88% believed that their assets would not be left to the right person under intestacy rules.
These figures reveal that many people are unaware of the consequences of failing to make a Will. If someone dies without a valid Will in place, intestacy rules dictate how their money, property or possessions should be distributed.
Regardless of your age or health, it is important to plan ahead, particularly if you have minor children, own a property or have savings, investments or own a business.
In addition, we always suggest that you review your Will on a regular basis. If you would like to organise a meeting to review or discuss your Will requirements, please contact us.
Ashton Grace – Specialists in Peace of Mind