Best Accountants in Royston

Many of us will die without a will because it is something that we fail to get around to, often because we don’t want to think about our own demise. Around half of UK adults don’t have a will, with a third of those over 55 in this position, according to research from Canada Life. Anyone dying without a will is leaving the State to dictate how their assets are split when they die, and it could even mean the State taking your money. This would mean the people you want to receive the things you leave behind may not receive them. Your ‘last will and testament’ is essentially your final wish for what happens with your worldly goods when you die. Without a will, there is a specific set of rules by which the State will divide up your estate, In England and Wales, these are: Your married spouse or civil partner – even if you have separated and are yet to divorce – will inherit your whole estate and your personal possessions. If there are any children, grandchildren or great grandchildren, then your spouse or civil partner will inherit: The first £322,000 of the estate. All the personal possessions of the deceased, plus, half the remaining estate.