What are Intestacy Rules?
Intestacy Rules apply should you die without having made a will. Under these rules, assets are often passed to unintended beneficiaries, unwanted trusts with limited powers of investment can be created, and undesirable Inheritance Tax consequences may occur. Intestacy commonly leads to a greater delay in obtaining a Grant of Probate than if a will had been made, and may also be more complex and expensive to administer. What do I need to consider when making a will? Before you start to make your will you should: Make a list of all your property and assets Think about who you would like to inherit them Consult anyone you need to about your choices Think about who could be Executor(s) and Guardian(s), and obtain their agreement. Most importantly, you should seek advice. It is all too easy for a home-made will to create unintended results in the distribution of assets. Both people in a couple should make wills, even if one of them has relatively few assets. Marriage revokes an existing wil
