Assured Legacies - Wills

If You Don't: the Government Will (actually they already have)

When a person in this country reaches the age of eighteen the Government does something for us with hardly anybody realising it.

In effect they write a Will for each and every one of us. This Will is known as the "Rules of Intestacy"

So if the government has already written everybody a Will why is it so important to write one yourself?

The answer is quite simply because of what the Rules of Intestacy don't do.

Under these rules:

  1. Your estate won't automatically all go to your spouse
  2. Nothing will go to your partner
  3. You can't cut out or leave a larger proportion to one or more of your children
  4. Nothing will go direct to your grandchildren
  5. Nothing will go to stepchildren
  6. If you have no children or parents you can't stop your estate going to your siblings or aunts & uncles
  7. You can't leave cash or personal possessions to relatives, friends, charities etc.
  8. If you have no valid beneficiaries under the rules of intestacy you can't stop your entire estate going to the Crown
  9. You can't appoint who you want as executors to carry out your wishes
  10. You can't appoint who you want as guardians to bring up your children
  11. You can't specify your funeral requests
  12. You certainly can't plan your affairs to reduce or remove the burden of Inheritance Tax or Residential Care Costs etc.

In short if you do not write a Will you have absolutely no say whatsoever in what happens to your estate making life so much more complicated and traumatic for those you leave behind. Like so many others your affairs will be at the mercy of the Government's rigid rules and very probably a large chunk of your hard earned assets could end up going to the Treasury.

Your Will, whilst being essential in its own right, is also the foundation stone of your estate planning, allowing you if required to build on a range of protective measures against tax and other potential threats to your assets.

By writing a Will you will have made life simpler and more secure for those you leave behind but above all it will have been YOUR choice as to what happens when you have gone.

We at Assured Legacies Ltd would be happy to discuss this subject in greater detail with you either on the phone or in the comfort of your own home at your convenience.