Important Facts about Wills, Intestacy and Relationships
The law is not always as people expect in relation to how assets pass on death. The intestacy rules apply when an individual has not made a will. The intestacy rules dictate how assets pass where a will is not in place. We thought we would highlight some aspects of the law that are relevant in certain circumstances.
- Assets do not pass automatically to an unmarried partner on death. It is always prudent to make a will if you are not married and live together.
- Marriage revokes a will unless the will is made in contemplation of marriage. If you made a will before you got married, then it is advisable to make a new will.
- Under the rules of intestacy, in the case of a married couple, the surviving spouse only inherits the personal possessions that belonged to the deceased, a legacy which equates to the first £275,000 of the estate and then half of the residue (remainder of the estate). In a lot of cases, even if you are married, it is still advisable to make a Will.
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