The Importance of Making a Will: Patrick Hurd and Michael Jepson Discuss


The Importance of Making a Will

2010 continues to be a volatile and troubled year and with that uncertainty in the world, it will pay to create certainty at home. Only 50% of us who should be making a will, do and many people misunderstand intestacy.

Is the following acceptable for your Will?

If my spouse/civil partner survives me he/she gets all my personal possessions and the first £250,000 of my estate plus a life interest (interest in income only) in half of the rest. The other half is to go to our children as and when they attain the age of 18 or on earlier marriage.

If he/she survives me but I have no children he/she gets personal possessions and the first £450,000 of my estate plus half of the rest. The other goes to my parents or brothers and sisters.

I do not appoint anyone as my executor but my spouse/civil partner and my family can sort out who is to apply for a grant.

Now, if you have not made a Will, then that is your Will, as that is a basic summary of the main intestacy provisions.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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