In 2015 UK charity Macmillan Cancer Support conducted a survey investigating the impact of dying intestate. Their research revealed that one million people in Britain have been involved in a family feud caused by a relative dying without having written a will, and 200,000 of those claimed that their family had been broken up as a result.
With two thirds of UK residents without a will, who gets to inherit can become an unpleasant battle at a difficult time. As the notion of a traditional family is changing, adding divorces, new marriages and step children and extended life expectancy to the mix can create complicate family circumstances.
If you also consider the value of the average UK family home in 2015 was £300,000 and rising, it is easy to see how dying without a will can bring people out of the woodwork looking for a share of the loot.
The best way to ensure that your family can grieve in peace is to plan ahead. Ensuring you have a regularly updated will in place, allowing you to disinherit any black sheep if you desire too, is the best way to ensure that your family remember you fondly after your death. Except the black sheep of course…
Disclaimer: Wills Worldwide is not licensed or qualified to give tax advice. This article is intended for information only and does not constitute tax advice. If you are in any doubt about your tax status please contact a qualified professional.