Why your new year resolution should be making a will
By Ian Bradshaw and Lara Murrell
It is not surprising that most people find it quite difficult to get around to making a will. It can be hard to face up to one’s own mortality and often when people are considering making a will it is after somebody close has died. However, if you do not make a will, then you lose control over what happens to your estate following your death.
Where a person dies without having made a will, that person is said to have died intestate, and the law sets out in a prescribed manner how their estate should be distributed, called the Intestacy Rules. The persons who may inherit under the rules of intestacy are restricted to spouses or civil partners, children, grandchildren and some other close relatives. Cohabitees or ‘common law spouses’, close friends, carers or charities cannot benefit under these Intestacy Rules. Divorced spouses or former partners of a civil partnership are also unable to inherit under the Intestacy Rules, although they can still inherit if they are only informally separated.
It is very important therefore for cohabiting couples to make wills to ensure that their estates will be left to each other…
Click on the link below to read the rest of the Goodman Derrick briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Goodman Derrick
Briefings from Goodman Derrick
The variable element, ie. the commission or overtime, should be included as ‘remuneration’.
The latest football/finance issue to rear its head is ‘third-party ownership’ of football players.
Analysis from The Lawyer
Active financial management is vital, but with firms looking more closely at the process of debt and fee collection, the personal touch still counts
The lure of the law can kick in at any stage of life. We speak to four individuals who have made a radical switch to a legal career