The importance of a will 'should not be underestimated'
20 Jul 2010
Nobody should underestimate the importance of a will when it comes
to dividing up assets according to the wishes of the
deceased.
This is the advice of family law expert Rhian Rees, who told the
Gloucestershire Citizen that dying intestate - without a will - can
have disastrous consequences for family members as they will have
no control over who benefits from the estate.
Cohabiting couples are most at risk, as the deceased's estate may
be passed on to the Crown if there are no living relatives, no
matter how long the couple lived together for.
In a worst case scenario, the surviving partner may find themselves
homeless if their property was not jointly owned.
"Although death is always an uncomfortable issue for discussion,
the importance of
writing a will should never be
underestimated," Ms Rees commented.
"A professionally-drawn will is all that is needed to ensure your
estate is distributed in accordance with your wishes."
In March this year, two brothers were forced to go to court over
their father's will amid allegations that he had updated it when he
was ill and confused.
A judge ruled in Richard and John Key's favour and decided that the
original document should still be valid.
People considering making a will may also be relieved to know that
such a document could reduce the burden of
inheritance tax on
their offspring when they are gone.
Financial expert Adeline Christy, writing for the Aberdeen Press
and Journal, said many people overlook ways of getting around the
levy which family law solicitors would be able to explain
easily.
