Why make a will?
74% of people in the UK do not have a current Will that reflects their personal and financial circumstances at the time of their death. So, why make a Will?
Leaving a spouse or
civil
partner
and children
Under the intestacy rules, if a person dies leaving a spouse or civil partner and children, the spouse or civil partner will recieve:
- All the personal chattels (such as household items and jewellery)
- A lump sum of £125,000, and
- A life interest (a right to the income but not the capital) in half of the residuary estate.
- The children will receive one half share absolutely and the half share held on trust for the surviving spouse or civil partner on his or her death.
Team contacts
Further information
- Will everything you own pass to those you want to benefit?
- Leaving a spouse or civil partner and children
- Leaving a spouse or civil partner but no children
- Leaving a cohabitant with or without children
- Jointly owned property
- Potential inheritance tax savings
- Additional functions of a will
- Will questionnaire