Wills and Probate Blog
Having watched Martin Lewis on the Money Show Live recently, we found that aside from the name Martin, we do have a lot more in common.
On the show, which is broadcast live on ITV, Money Saving Expert founder, Martin Lewis, explained how you have no control over where your money and assets go after you die, unless you have a will in place.
This is something that we at Martin Kaye Solicitors have been trying to instil in our clients for a long time. You do not want to be in a position where your estate is in limbo, because no one has a legal power to deal with that estate.
On the show, Martin Lewis explained how under current rules in England and Wales, known as intestacy rules, if you are married, or in a civil partnership and you don’t have a will, if your estate is worth less than £270,000, then everything will automatically go to your spouse. But if the estate is worth more than £270,000 and there are children involved, the spouse would then inherit half of the remaining assets and have a life interest in the other half, which would then be ultimately divided equally between the children, no matter how many of them there are.
However, if you make a legal will, you can decide who deals with matters, who inherits and how much.
Martin Lewis explained that it is “especially important” to consider a will if you’re not married or in a civil partnership. In the eyes of the law, it doesn’t matter if you have lived together for many years and had several children together, legally a partner would not get anything without a will in place.
Our advice at Martin Kaye Solicitors is don’t take this chance, protect what you have or are working so hard for in life. Our basic single will is £240 + VAT, which you may feel is expensive, but you can’t put a monetary value on piece of mind and protection for loved ones at a difficult time.
If you need any advice when it comes to Wills, Probate and Administration of Estates, Lasting Powers of Attorney, Court of Protection or Family Disputes, please get in touch with our expert team at Martin Kaye Solicitors who will be able to give you the best possible advice at law@martinkaye.co.uk or via this form here.
