Intestacy Law: What Is It?
Intestacy laws, as many laws do, lag quite a long way behind the society they are supposed to serve. Indeed, you’d have to route through the books for quite a time before you came across a set of rules quite as archaic as those we use to divide up an estate in cases where a person dies without leaving a will.
This can lead to some really tragic occurrences. If for example, you and your life partner are unmarried and you do not have a will to direct how your capital, property and possessions should be split between your loved ones, you will find that, by law, they won’t inherit anything. At the same time, your immediate family will automatically benefit, regardless of what the nature of your relationship actually was. If the passing of a partner wasn’t upsetting enough, there is a real possibility that, depending on your circumstances, they will be left with nothing, whilst a person who you may be estranged from altogether will be left substantially better off.
This makes it vitally important not to put off making a will. Of course, none of us like the idea of thinking about our own death in such stark terms, but the truth is that it’s impossible to know what might happen. Age is really irrelevant to the issue of needing to write up a will. You simply never know what might happen. Of course, if you do not have anything in much in the way of an estate (for instance, if you live in rented accommodation and do not have much in the way of savings) then it is perhaps less of an issue, particularly if you don’t have children, a partner or any dependants of any kind that you’d be concerned for after you’re gone. However, the moment you do, writing a will should be high on your agenda.
Writing a will is normally very straight forward and, unless you have quite a complicated set of assets that you’ll be bequeathing, you can often write a will without any help from a legal professional. Templates are available that will provide a simple solution for many people. Don’t hesitate. Guarantee your legacy by writing a will.