What Happens To My Possessions if I Die Without a Will?

By on May 1, 2014
photo of woman and young man sitting with man with calculator and paper work

By Michelle Oaks –

Of all the big decisions to make in life, it can be quite distressing to realise that one of the concerns is what happens when you die. A lifetime’s worth of possessions, property and money remains behind to be shared amongst your loved ones and entrusted holders; not only to help others remember you but to help them get on with their lives too, safe in the knowledge that there are no complications and nothing to hinder their grief.

Saga.co.uk explain that a Will is a legally binding document drawn up to make these decisions so that your named beneficiaries are entitled to what you have bequeathed them as the testator of the Will. Without this document, strict intestacy laws determine who ends up in possession of your estate – which may not work out as you wish if your requests go unrecorded.

Unless you are joined in marriage or civil partnership with your partner, without a Will intestacy laws state that your surviving partner is not entitled to receive your entire estate. Instead, it will pass down your bloodline. In the event that you have no potential beneficiaries down the bloodline then it’s possible that the state will receive what is left.

Without either children or a partner recognised by the state, your family could miss out.

It’s therefore important to ensure that you create a Will which officially names the people who you wish to benefit from your estate – if your children are not yet of age then you can also appoint a trustee to take care of what you have left them. This can be the partner who survives you, or the Executor of the Will if you so wish.

It’s recommended that you name more than one Executor in your Will; one person who can deal with the emotional aspects of caring for those left behind, and a trained professional such as an accountant or solicitor who can take care of the hefty administration.

Your Will is named your will for a reason; it’s yours to do with as you wish – to ensure that your loved ones are taken care of when you’re gone.

Michelle graduated from the University of Southampton with a degree in Law. Michelle now works as a solicitor, freelance writing on her specialist area Family Law in her spare time.

 

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What Happens To My Possessions if I Die Without a Will?