If you die without leaving a Will in England and Wales, your property, money, assets and possessions will be shared out according to the Rules of Intestacy. This means that the State will decide who inherits what from your Estate and what percentage each beneficiary will receive in the split.
The result of this process can mean that certain assets that make up your Estate can pass to someone you hadn’t intended to be a beneficiary, or that someone you want to leave something to, receives nothing.
The rules for Scotland and Northern Ireland are slightly different but there are some common principles.
Book a session to discuss:
➡️ What is a Lasting Power of Attorney and why it’s critically important to have one?
➡️ Why a basic Will is insufficient to protect you.
➡️ How to avoid paying unnecessary Inheritance Tax.
➡️ Why some people end up having to pay tax on top of tax through bad planning.
➡️ How simple it is to put care and financial plan in place.
➡️ How to ensure your assets and wealth pass to your family bloodline and are protected – even in the event of a divorcee, unmarried partners living together, or new ‘step’ members being added to future generations through the formation of nuclear families.