Can they afford for you die without a will?

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Last Thursday [7th February 2020] a change in English & Welsh intestacy law (the rules about what happens if you don’t have a valid will) came into force; the first significant change since 2014.

Having correctly structured wills (and Lasting Powers of Attorney) is an essential component of your financial planning.

The changes on Thursday pushed the limit on how much a surviving legal partner (husband/wife/civil partner) can inherit automatically.

Remember “Common Law” is a myth and has no legal standing – the ramifications of which can be hugely expensive – emotionally and financially – with someone who might have been living in a house for decades having to deal with being required to move out their home after losing their partner.

We work with some great local law firms to ensure that our clients get correctly drafted documents.

Call us now for a complimentary initial assessment and free guidance. note: the Financial Conduct Authority does not regulate tax planning, taxation, lasting powers of attorney or wills

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Notices:

Our posts are intended as financial education and financial information, not as financial advice, and are only suitable for UK residents. Always take professional, independent advice before acting on any information.

Investment & Retirement Solutions Ltd is authorised & regulated by the Financial Conduct Authority.

The value of investments and income from them can fluctuate (this may partially be the result of exchange rate fluctuations) and investors may get back less than the amount invested. Past performance is not a guide to future performance.

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The Financial Conduct Authority does not regulate taxation and trust advice, will writing, advice on deposit accounts, some types of offshore investment, some aspects of buy to let mortgages, commercial finance or offshore mortgages.

Levels, bases of and reliefs from taxation may be subject to change and their value depends on the individual circumstances of the investor. Unless specifically stated otherwise, our posts do not allow for the additional taxation powers which may be levied by the devolved governments.

All information is offered in good faith and is believed to be correct at the time of publication however it may be superseded following publication. E. & O. E.

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