What Happens if You Die Without a Will?

We all know we should make a Will, but it’s common to put it off. Thinking about your mortality is not pleasant. Over 60% of adults in the UK die without writing a legally valid Will according to research carried out by Macmillan Cancer Support. This leaves their estate and possessions open to the vagaries of intestacy rules.

Dying without clear plans in place could wreak havoc for your loved ones. Understanding what happens if you pass away without a will is vital to get your affairs in order.

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What Does Intestacy Mean?

Intestacy simply means dying without making a legally valid Will that distributes your assets. When this happens, the laws of intestacy kick in to determine what happens to your estate.

The intestacy rules in England & Wales, Scotland and Northern Ireland vary slightly. But in general, your estate will be divided up between legally defined groups of surviving blood relatives. The law sets out a specific order of inheritance that starts with spouses and descendants. If no close family members survive you, more distant relatives may inherit. In rare cases with no qualifying beneficiaries, your estate can end up fully belonging to the Crown.

This default distribution can seem sensible in theory. But in practice, relying on intestacy is risky. The set categories don’t allow for personal circumstance or your actual wishes. You have no control over who ultimately benefits from your estate. That’s why dying without a Will leaves much to chance.

Why Write a Will?

Making a Will lets you dictate exactly how your assets should be handed down after death. You can make bespoke arrangements that provide for your loved ones and avoid family disputes. It also means you get to pick trusted executors to handle your estate.

Careful estate planning through your Will can significantly reduce inheritance taxes too. If you die without qualifying for exemptions, your estate may face a 40% inheritance tax bill before distribution to beneficiaries. But options like gifting and trusts can minimise this tax liability.

Writing a comprehensive Will gives you peace of mind that your affairs are in order. It allows you to protect vulnerable beneficiaries whilst ensuring no assets end up with unintended people or the government

Consequences of Dying Without a Will

Here are some of the common problems that could arise if you pass away intestate without a will:

Assets May Not Go to Immediate Family

Contrary to common belief, your spouse does not automatically inherit your whole estate if you die without a Will. In England and Wales, if your estate is valued over a set sum, your estate will be divided between your spouse and biological children. Unmarried partners and stepchildren aren’t entitled to anything under intestacy. This means that your unmarried partner could be left without any protection or any of your estate, including your home.

Children Could Inherit Prematurely

In England and Wales, minors can inherit their whole share of an estate at just 18 years old without a Will in place. Few teenagers are equipped to manage unexpected incidents. But with no Will, you cannot specify an older inheritance age or set up a trust for younger beneficiaries.

Family Arguments Over Assets

When there’s no guidance on who should get specific assets like property, disputes can arise between relatives. Siblings may argue over who claims the family home or other emotional bequests. This can permanently fracture family relationships.

Higher Taxes on Inheritances

Beneficiaries inheriting under intestacy rules could end up in higher tax brackets. Assets and wealth transfer less efficiently. Whereas a Will can include provisions to minimise inheritance taxes.

State Inheritance

If no qualifying next of kin exist to inherit your intestate estate, it can pass to the Crown. Dying without a Will means you have no say over which charities or loved ones ultimately benefit.

Probate Difficulties

Without appointed executors, administering your estate is more difficult. The law sets out who can apply for probate in the absence of a Will. This could mean that your estate is left to be distributed by someone that you do not trust. In cases where those entitled to apply do not want to do so, it can become complex.

Guardianship Issues

Parents with minor children should always make a Will. It allows you to nominate trusted legal guardians to care for your kids if tragedy struck. Otherwise, courts decide guardianship with no regard for your wishes.

Securing Your Family’s Future

To avoid these kinds of problems, the best thing you can do is consult a professional estate planning company. The senior advisors at MWQ Estate Planning offer a compassionate but comprehensive Will writing service. We’ll talk through your family circumstances in detail to understand your priorities.

Our expert consultants can then fully advise you on tailoring a legally valid will to meet your specific needs. We’ll help you consider how to distribute your estate in a tax-efficient manner and through options like trusts, gifts and executor appointments. With a Will in place, you can relax knowing you’ve secured your family’s future. All your loved ones will be provided for according to your final wishes. And you’ve minimised inheritance taxes so they receive more of your legacy.

Get in touch today to discuss writing your Will, or other estate planning documents such as lasting power of attorney. We’re here to provide complete peace of mind that your affairs are all in order for whatever the future holds.

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