What happens if you die without a Will?

Posted on 8th June 2018

The FCA do not regulate will writing.
Will writing is not part of the Intrinsic Network offering and is offered in our own right.

Unfortunately, many people are taking the unnecessary risk of dying ‘intestate’, otherwise known as dying
without a Will.

In the 2015/16 tax year HMRC saw the highest intake of inheritance tax revenue in history – £4.7 billion
was raised, according to HMRC data. The Office for Budget Responsibility figures show the amount of
families paying inheritance tax has increased by 160pc over the last six years. HM Treasury is also
forecasting that annual revenue will continue to rise over the next five years. (Ref.
https://www.telegraph.co.uk/financial-services/investments/inheritance- tax/why-109- families-a- day-are-
paying-inheritance- tax-by- making-sens/)

The types of risks that beneficiaries and their families are up against because of intestacy are, unnecessarily
losing funds to HMRC in IHT, forced house sales to meet mortgage commitments for example, as well as
having to suffer a bureaucratic nightmare and perhaps most importantly, funds not going to who they were
supposed to go to. In summary, by planning properly you can protect wealth from unnecessary over-
taxation, creditors, divorce, care home fees, IHT and marriage after death.

Scary, isn’t it? It doesn’t have to be.. making a Will is not expensive, we charge £499 per Will with advice,
and it doesn’t have to be complicated, when using a professional to help.

It is important that you use a professional who can look at the legal side of things, tax and financial
planning in conjunction, so that nothing is missed. We’re here to help, for sympathetic, expert advice on
making a Will or setting up Trusts and Lasting Powers of Attorney, please get in touch for more information.

Contact us to discuss your financial future

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