With Valentine’s Day just gone, flowers placed in the vase and cards on the mantelpiece, those of us lucky enough to have a special person in their lives can feel we have done enough to show we care. But for couples both married and unmarried many have not protected their loved ones (children included) in the event of death.
It is recommended that everyone has a valid Will in place to ensure that your estate passes in line with your wishes. This is especially important for unmarried couples that wish to provide for each other and their partner’s children in the event of their death.
Under the Intestacy Rules, a surviving partner would not be protected or provided for if you have not married, which can lead to serious financial problems to compound the distress of losing your loved one. This is as important when considering children of the surviving partner, who again would not be provided for at all under intestacy rules. This is something to consider if you would like to provide for your partner’s children from your estate when you pass away.
The surviving partner is also affected with regard to arranging the funeral and wake of their loved one as if they are not appointed as an Executor of their late partner’s Will, it is possible they would have no say in the funeral arrangements.
In a Will you can choose your executors who will ultimately be responsible for ensuring that the wishes in your Will are carried out and also detail who should receive your estate on your death.
No one likes to think about effects on others of their death, but by not planning for that time it can cause serious hardship for those loved ones you need to protect.
For further information contact our private client team on 0161 672 1242.