Making a Will: increase in number of intestate queries

The Citizens Advice Bureau recently commented that the number of enquiries they have received about people who have died without making a Will has more than doubled over the past five years.

In an interview with BBC 5 Live Daily they said they had received a total of 3,747 such enquiries in 2015 compared to 1,522 they had received in 2011. They also confirmed that they had seen an increase in the number of queries relating to the problems with executing Wills.

According to a YouGov survey, nearly two thirds of the British adult population do not have a Will.

Neil Raiseborough, Member and Head of Private Client Department at Alsters Kelley LLP, says, “It is so important for people to make a Will, especially those with children or property or financial investments.”

He continues, “By making a Will you can ensure that any assets you have pass in accordance to your wishes, amongst your family, friends or charities. It can also help you to manage the amount of Inheritance Tax you pay.”

Neil adds, “We receive many enquiries every year from families who have lost a loved one who has left no Will.  This situation is known as intestacy. When this happens it can cause additional uncertainty and stress for the deceased’s loved ones and may also mean that their wishes are not adhered to.”

What happens if there is no Will?

• If someone dies without a Will, the Intestacy rules dictate how their money, property or possessions should be allocated, which may not be in the way the deceased would have wished
• Unmarried partners and partners who have not registered a civil partnership cannot inherit from each other unless there is a Will
• If there are no surviving relatives who can inherit under the rules of intestacy, the estate passes to the Crown
• There may be unintended Tax consequences
• Issues may arise as to who should administer the estate which may cause conflict

For advice and information on how to make your Will contact Neil Raiseborough on 01926 356042 or email neil.raiseborough@alsterskelley.com