Dying without a will – the increasing costs

Dying without a will – the increasing costs

Dying without a will – the increasing costs

by | Inheritance

Writing a will is not a joyful task I grant you.  But most of us are aware of the importance of doing so.  We may procrastinate and dither but pen does need to be put to paper.  However it seems fewer and fewer of us get round to it.

The number of enquiries about people who have died without making a will has more than doubled over the past five years.  The UK’s Citizens Advice says the charity revealed 1,522 such queries in 2011, rising to 3,747 in 2015.

Dying without a will, or ‘intestate’ creates administrative and bureaucratic issues at an already emotional time for your remaining loved ones.  Dealing with paperwork, bank accounts and debtors can be scary.

It can also significantly diminish your estate with a large tax bill.  Any UK domiciled individual will be charged 40% on their estate over the nil rate band allowance of £325,000 in 2016/7.

An estate of £700,000 without a will and no pre-emptive tax planning could incur a tax bill of £150,000.  Make sure that your full estate goes where you wish by creating a will now instead of an emotional and financial burden on your death.

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Testimonials

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK...

Jenny Pearson, Consultant, Cambodia

2018-06-05T07:59:04+00:00

Jenny Pearson, Consultant, Cambodia

"For various reasons, my situation turned out to be quite complicated and I needed two wills (as advised by UK tax specialist) to keep my English and Cambodian assets completely separate. Cindy was able to work through all of that with me and I am confident that I now have everything properly covered."
"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and...

Jayne Hilton, Engineer, UK

2018-06-05T08:30:28+00:00

Jayne Hilton, Engineer, UK

"Cindy is knowledgeable, approachable, incredibly helpful, and highly professional. She helped me to understand the implications of my requests and was always on hand to offer guidance and support. All in all an excellent service."
"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a...

Jim Swander, CEO, Cambodia

2018-06-05T08:37:50+00:00

Jim Swander, CEO, Cambodia

"It was a pleasure to work with Cindy and her team! Even though planning for one’s own death is a project we all can easily put off, it removed an area of stress in my life. I no longer had to wonder if certain people would be taken care of, or where my money would go. Cindy and I worked through the process and she asked a lot of thought provoking questions. The first draft helped me think a second layer down, and made the will more complete. We finalised with her lawyer, signed, witnessed and put away in a safe place, letting my executor know exactly where to find it. I do not hesitate to recommend Cindy’s services."
"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid...

Moray Iles, Vietnam

2018-06-05T08:42:23+00:00

Moray Iles, Vietnam

"Cindy made the process of making a Will painless and efficient which we really appreciated. She was sensitive to avoid putting pressure or hassle to complete the Will quickly which allowed us to consider everything in our own time. Best of all, Cindy's professional support and thorough and clear explanation of the laws pertaining to our situation were very helpful. We would look forward to working with Cindy again on documents personal to our family."
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