WILLS FACT SHEET

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If you have not made a Will, any property belonging to you alone or not held as joint tenants, will pass under the Intestacy Rules. The Rules may surprise you and are summarised below:

IF YOU DIE LEAVING A HUSBAND/WIFE PLUS CHILDREN:

a. Your spouse receives all your personal chattels e.g. household contents, jewellery, car etc.
b. Your spouse receives property/money up to £125,000.
c. Half the remainder of your estate will pass to your spouse for his/her lifetime only. Upon his/her death, it will pass to the children.
d. The other half of your estate will pass to the children absolutely upon reaching 18.

IF YOU DIE LEAVING A HUSBAND\WIFE BUT NO CHILDREN:

a. Your spouse receives all your personal chattels e.g. household contents, jewellery, car etc.
b. Your spouse receives property/money up to £200,000.
c. Your spouse receives half the balance of the estate.
d. The other half of the estate passes to your parents or if they have died to your brothers and sisters equally or to their children.

IF YOU DIE LEAVING NO SPOUSE, THE ORDER OF PRIORITY WILL BE:

Children.
Your parents.
Brothers and sisters or their children.
Through remoter relatives until it passes to the State if there is no one to inherit.

UNMARRIED COUPLES

No guarantee that your partner will get anything.

REMARRIED COUPLES

Marriage cancels any earlier Wills and children from an earlier relationship will not benefit automatically.

TESTAMENTARY GUARDIAN

If you and your spouse should be killed in a car accident, for example, you should consider what would happen to the children and ensure your wishes are contained in your Will to avoid any doubt or legal wrangle.

No matter how much family harmony there may be during your lifetime, you cannot be sure that this will always be the case and the safest way to ensure that your wishes are carried out is to have them contained in a Will.

If you require any further advice or assistance, please arrange for an appointment to discuss the preparation of a suitable document.

Waters & Co. Solicitors
81 High Street, Coleshill, Birmingham B46 3AG
TEL: 01675 463855
FAX: 01675 467496
E-mail: office@waterssolicitors.co.uk

E-mail us now for further information or to arrange a consultation.