MARRIED COUPLES

These guidelines also apply to those who are in a formal Civil Partnership.

There can be serious financial hardship for married couples who do not have a Will, particularly if they have children.

If one partner dies without a Will (intestate), the Laws of Intestacy will dictate how the assets are distributed.

If assets are over £200,000, and there are children, the survivor will only receive £125,000 and a life interest in half of the remainder of the estate. The balance will go to the children.

If there are no children, the survivor will recive £200,000 and a life interest in half of the remainder, with the balance going to parents or siblings.

Jointly owned property will automatically transfer to the survivor; however, as part of careful Estate Planning, this may not be the best option.

Writing a Will as part of a total Estate Planning exercise to create Your Personal Plan, will ensure your assets are distributed how you wish and takes advantage of the many options available to you.

Our Fact Sheets explain these in more detail, or follow the Contact Us link for a confidential discusion.