Everyone who has savings or assets worth any value should make a will, and yet more than 30 million UK adults have not yet got around to making a will. Of those, 84% are aged 18-34, but 35% of the over-55s also don’t have wills. The main reason for this seems to be apathy and a misguided belief that the right people will inherit the estate. That may be so, but, not necessarily, and there are limits on how much people can inherit.
In fact, writing a will is not so expensive when using a firm of probate solicitors in Portsmouth. There are plenty to choose from, including Andrew & Andrew. Wills cost about £120 for a single person, and £200 for a couple.
Spouses and Civil Partners
Legally, the spouse or civil partner inherits all the assets, but only up to a figure of £250,000. And for many people, the value of their home is far more than that, so not leaving a will can mean that one’s spouse or civil partner has to sell the family home. They also get to keep all the personal possessions, whatever their value.
Anything Left Gets Split
After that, anything that is left is divided equally between the spouse or partner, and any surviving children.
Sad for common-law partners
Dying intestate leaves unmarried partners with no rights at all. They are not bound to inherit anything.
No Relatives at all
If someone dies with no spouse, children, siblings, grandparents, aunts, uncles or aunts, then the whole of the estate goes to the Crown.
Writing a will isn’t hard
People may seem to suffer from ‘wills apathy’ but writing a will does not have to be complicated when using a firm of probate solicitors in Portsmouth. Writing a will means being able to choose someone trustworthy to administer it and it ensures that the people who are meant to benefit, do. It also saves beneficiaries from paying unnecessary government taxes, or having to take out loans to pay inheritance taxes before the estate is released. A firm of probate solicitors in Portsmouth can also help write appointments for guardians of children, and wishes for funeral arrangements.