Many thousands of people, including the local population, often ask the reasons for making a will in Birmingham and the logic to such questioning is listed below.
There are many reasons for making a Will, and many do not understand the implications of not making a Will (i.e. dying intestate - that is dying without a Will).
To die without a Will simply means that the law will decide who will benefit from your estate and what the "pecking order" is as to whom will benefit. There is what we know as a spouse's statutory legacy which now includes civil partners, and states that your spouse/civil partner (even if you are separated but not divorced) will take the first £250,000 if you have children, and then enjoy a life interest in half of the remainder. This half of the remainder will ultimately go to your children once your spouse has died but your children will receive the other half once they attain the age of eighteen (in equal shares). Your spouse/civil partner will also receive your personal chattels. If you have no children then your spouse/civil partner will receive the first £450,000. Anything over and above this amount will go to other relatives as set out in the "pecking order" as laid down by law (parents, siblings, grandparents, aunts & uncles and so on, and if there is no one then ultimately to the Treasury Solicitor on behalf of the Crown.
You may therefore, wish to make a Will to ensure that your spouse/civil partner receives everything you own! (Without a valid Will it may be that your widow/widower may have to sell property in order to pay other relatives). Or perhaps you might not be legally married but wish your partner to inherit some or all of your estate? I have often heard clients cry something to the effect of, "but we are common law husband/wife, so that won't happen to us!" Wont it? Your common law husband/wife or partner has no automatic right to anything you own, but does have the right to make a claim on your estate. But this may cost time, effort and money at a time when he/she is bereaved and probably not what you anticipated for them. A valid Will makes it absolutely clear as to your intentions and is a legal document.
Perhaps you have no living relatives? What happens then? You may wish your hard earned money to go to friends or a charity. But without a Will they will receive nothing and the Crown will ultimately take all. It could be that you do have relatives that you don't wish to inherit your estate!
Perhaps you are married but do not wish your spouse/civil partner to inherit all of your estate? Perhaps you have children from a previous marriage and would wish them to inherit some or part of what you own - or even your house after your spouse/civil partner has died. Giving your spouse/civil partner the right to reside in the family home is often an option in such cases.
And then there are the children. Many of us have married more than once and have children in the home from different marriages. Step-children (like unmarried partners) have no automatic rights but may win a claim on your estate if they are, or have been, dependent on you. They may have to fight (or have someone else fight on their behalf) to win such a claim.
Guardians are often nominated when making a Will for those of your children who are under eighteen years of age. Without such nomination your children would become wards of the court and it would then be up to the courts to decide who will look after them.
A Will is also a place to include trust provisions which can enable you to protect and even control the inheritance of your beneficiaries after your death, (you may be worried about your beneficiaries being disabled, bankrupt or becoming divorced or simply unreliable). It may also be possible to reduce the burden of inheritance tax with such planning.
Making and maintaining an up-to-date Will is one of the most important steps you can take to secure your assets and, where appropriate, protect the interests of your spouse/partner and children and loved ones. You may make several Wills over your life time. Keep it updated to reflect your wishes which may change as your family and financial circumstances change.
The question is...do YOU need to make a Will? Heather Pierson of Creaton Will Writing Centre ltd is a member of the Institute of Professional Will Writers. Any Activ Birmingham visitors who decide they require further information on this matter can contact Heather on 02476 370454 for an informal chat. www.creatonwillwritingcentre.co.uk
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