| What are Intestacy Rules? Intestacy Rules apply should you die without having made a will. Under these rules, assets
are often passed to unintended beneficiaries, unwanted trusts with limited powers of
investment can be created, and undesirable Inheritance Tax consequences may occur.
Intestacy commonly leads to a greater delay in obtaining a Grant of Probate than if a
will had been made, and may also be more complex and expensive to administer.
What do I need to consider when making a will?
Before you start to make your will you should:
• Make a list of all your property and assets
• Think about who you would like to inherit them
• Consult anyone you need to about your choices
• Think about who could be Executor(s) and Guardian(s), and obtain their
agreement.
Most importantly, you should seek advice. It is all too easy for a home-made will to
create unintended results in the distribution of assets. Both people in a couple should
make wills, even if one of them has relatively few assets. Marriage revokes an existing
will.
It is essential that when drawing up a will you consider investment, taxation and other
financial implications. Independent financial advice goes hand in hand with decisions
relating to will planning.
Who Can Write a Will for Me?
If you have a very straightforward will, you can download a form from the
internet or buy a will form from W H Smith and write it yourself. It must be
properly witnessed but it will be perfectly valid.
If you feel you need professional help, however, a solicitor will do it
for you - for a fee, of course. Cheaper alternatives are
Secureplan (see their article and
enquiry form here on laterlife) or the
Institute of Professional Will Writers.
Go to their website, find out about wills and find out where there is a will
writer in your area.
MACMILLAN
CANCER RELIEF
SUPPORT THE FUTURE
OF CANCER CARE WITH A LEGACY
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