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Why prepare a Will?
Preparing a Will so often represents something of a ‘whiteout’ in our imaginations, and a matter that we tend to put off, and off, and off. Yet we may also come across those bewildering succession events that in importance can range from the mildly bemusing to the truly horrifying and unjust. If only the testator had known better and grasped the nettle we observe ruefully.

On the other hand many become aware of the solace that a simple Will may provide; following a loved one’s waygoing wishes. It is a sad and sobering enough time yet there can also be upholding themes of consolation; and a Will can provide one such theme.

Mintaplan Limited is happy to assist clients and others – please contact David McNaughton on 01764 655633 or by email – david@miplan.co.uk.

 

 

 

 

 

 

 

 

Should you not provide a Will, that is die intestate, then the following happens

probable additional difficulty, delay or cost when your next-of-kin / executor seeks for probate or confirmation

opportunity is lost to provide a clear guide as to the executor/s, possible guardian/s, beneficiaries, funeral & service arrangements, bodily parts, your requirements or wishes

step- and foster children may be disinherited

opportunity is lost to settle amounts on charities, friends, other relatives

unmarried partners / partners not in civil partnerships cannot inherit

opportunity for tax mitigation may be lost

and the following is how your means will be distributed -

England Wales & Northern Ireland or Scotland

England, Wales & Northern Ireland

if you are single

If a single person dies intestate (without a Will) in England, Wales or Northern Ireland and your estate is worth more than £ 25,000 or more the following happens –

everything goes to their parents should they be alive, whom failing

everything goes to their brothers and sisters if any, whom failing

everything goes to their grandparents if alive, whom failing

everything goes to their uncles and aunts if any, whom failing

everything goes to the Government

and nothing goes to anyone else with the solitary exception of any children who can prove the deceased is their parent in which everything goes to them.

if you are married (with no children)

Should a married person with no children die without a Will in England, Wales or Northern Ireland the following occurs -

the first £ 200,000 + goods + chattels + interest from ½ the rest of the estate until death go to the spouse

the remainder goes to their parents should they be alive, whom failing

the remainder goes to their brothers and sisters if any, whom failing

the remainder goes to their grandparents if any, whom failing

the remainder goes to uncles and aunts if any, whom failing

the remainder goes to their surviving spouse

if you are married (with children)

Should a married person with children die without a Will in England, Wales or Northern Ireland the following occurs -

the first £ 125,000 + goods + chattels + interest from ½ the rest of the estate until death go to the spouse when the capital goes to the surviving children

the other ½ goes to the children immediately if they 18 years of age, and if not yet 18 then their share/s go into trust until they reach that age

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