Halloween is a FUN time! But it can very scary if you die without a Will and leave your family unprotected…
Here are 5 things that may happen if you die without a Will:
1. Your family and loved ones miss out. If you die without a will, you don’t get to decide who inherits your money, assets and possessions. Instead, it’s determined by a special set of rules: the laws of intestacy.
2. You assets could end up in the wrong hands. Family in reality isn’t always family on paper. For example, if you have a partner but are not married to them, they won’t automatically get anything unless you name them in your Will. But if you’re mid-divorce, your estranged ex could still inherit.
3. A big family feud could break out. Contested estates are on the rise, tearing families apart along the way. How would you feel if you plunged your family into arguments, potentially leaving them with several months, if not years, of disputes and financial hardship all because you never made the right plans? Why not do your bit and make sure you have documented your wishes well in advance?
4. Your family could be left with an unnecessarily large tax bill. Inheritance Tax is taken at a hefty 40% for estates above the threshold. But there are ways around it: a cleverly written Will can save you and your family thousands.
5. Charities and important causes miss out. Do you want part of your assets to go to your favourite charity or a cause that is important you? If you die without a Will, then UK Intestacy laws leave no room for charitable contributions. So, the only way to be charitable in death is to make your Will.
Are you scared yet? So, why not treat yourself to some peace of mind by writing your Will today??
Send us a message if you want to discuss your family situation and what your options are…