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Most people understand the importance of having one, and over half of UK adults (56%) do not currently have a will, a new study by Canada Life has indicated.. (1)
A large number of those people say when asked that they intend to make one when they are older. Others incorrectly believe that their estate will automatically go to the right people.
Under the rules of intestacy, if a person dies having not made a valid will, their property, bank accounts and physical possessions (their estate) is shared out according to set rules. This can mean that friends and family members can receive less than is desired or even nothing at all if they are not the closest blood relatives or married/civil partners to the deceased.
This area of Estate Planning can govern what happens to assets and to reduce tax liabilities and third party claims against assets.
We can advise you on various trusts and their benefits to you, please call or contact us for further information
These products are not regulated by the Financial Conduct Authority and we are not authorised via PRIMIS Mortgage Network to advise on them, these will be referred to a third party.
(1) https://moneyage.co.uk/majority-of-uk-adults-dont-have-a-will.php
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