Wills

Several recent studies have shown that a growing number of UK adults have not made a valid Will.

This is a worrying trend as the importance of a properly drafted document, to ensure that your assets are dealt with as you wish, cannot be overstated.

At OGR Stock Denton, our private client team provides a specialist, tailored and creative service to help clients to put their affairs in order.

If you die without a Will in place, it will be left to the State to determine how your estate will be distributed in accordance with the rules of intestacy and may not reflect your wishes. This can be a costly procedure and may also place an emotional strain on your surviving loved ones.

A Will is something that people of all ages, not just the elderly, should consider. Having a valid document in place means that you will have peace of mind that you have left clear instructions for how property and other assets should be divided after your death and the provisions that should be made for children or any other dependants.

If drafted with the help of an experienced lawyer, it can also help you to reduce your Inheritance Tax (IHT) liabilities and protect your assets.  Please note that we can also act as executors and administrators for appropriate estates.

As a firm we also have a substantial amount of commercial expertise, regularly advising company owners who want to set their affairs in order. We take pride in a holistic approach and will consider all aspects of a client’s estate, including their business interests, pensions and assets.

For further advice on drafting or updating a will, please visit our contact us page.

The Laws of Intestacy (England & Wales)*

Are you married / in a Registered Civil Partnership?
Yes
No
Spouse / Civil Partner gets everything
No
Is your net estate worth more than £250,000 excluding personal chattels?
Do you have a Child or Children?
Yes
Shared between them equally
Yes
No
Spouse/Civil Partner gets £250,000 plus personal chattels, plus half of the remainder. The balance goes to Children
Yes
Do you have a Child or Children?
Do you have a Parent or Parents still alive?
Yes
Shared between them equally
No
No
Spouse/Civil Partner gets first £450,000 plus personal chattels, plus half the balance absolutely. The other half of the balance goes to the Parent or Parents absolutely
Yes
Do you have a Parent or Parents still alive?
Do you have brothers and sisters?*
Yes
Shared equally among them**
No
No
Spouse/Civil Partner gets first £450,000 plus personal chattels, plus half the balance absolutely. The other half of the balance is shared equally among Brothers and Sisters
Yes
Do you have Brothers and Sisters?
Do you have a Grandparent or Grandparents still alive?
Yes
Shared equally among them
No
No
Everything goes to Spouse/Civil Partner
Do you have Aunts and Uncles
Yes
Shared equally among them††
No
Everything goes to the Crown. This means that a Government department known as the ‘BONA VACANTIA’ department takes it
 

*Note that half-brothers and sisters do not rank equally with whole blood siblings
**The children of any deceased brother and sister will take their share
Note that half-Aunts and Uncles do not rank equally with whole blood Aunts and Uncles)
††The children of any deceased Aunt or Uncle will take their share

 

* For deaths after the Inheritance and Trustees' Powers Act 2014 has come in to force.

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