Where There’s a Will There’s a Way.

Whilst many people will engage in hours of financial planning during their lifetime, not everyone recognises the importance of planning for the inevitable.

Most people have an idea in their mind of what they would like to happen to their estate but some find the prospective of preparing a will to be morbid or “tempting fate”. However, the process is not as daunting as it may first appear, it is simply just another piece of financial planning. Preparing a will allows you and your loved ones to relax during your lifetime, knowing that your estate is dealt with. Preparing a will also looks out for the loved ones who will ultimately be dealing with your estate in the future.

Not only is preparing a will important for the peace of mind of you and your loved ones, it is vital to ensure that your wishes are carried out. If you do not make a will then your estate passes under the intestacy provisions.

The Intestacy Provisions

The intestacy provisions apply as follows:

1. If you have a spouse or civil partner and no children – in this scenario your estate would pass entirely to your spouse or civil partner.
2. If you have a spouse or civil partner and children – in this scenario your spouse/civil partner inherits all of your personal chattels (tangible, moveable property), your spouse/civil partner receives a £322,000 statutory legacy and the remainder of your estate is split giving half to your spouse/civil partner and half to your children.
3. If you have no spouse or civil partner and no children – in this scenario the estate would pass in the following order, passing to the latter category if no one survives you in the initial category. Your estate would pass to your parents, then to your full siblings, then to your half siblings, then to your grandparents, then to your full uncles and aunts and then to your half uncles and aunts or their children if they have predeceased you.

Issues

Beyond the primary issue that the intestacy provisions do not provide for your specific wishes, there are several specific issues to note.

Firstly, the intestacy provisions do not account for complex familial relationships and follow biological closeness to determine emotional closeness. This is very often not an accurate reflection of the different relationships within a family and would not reflect, for example, your specific closeness to an aunt or uncle rather than a grandparent, or to one sibling out of a number.

In a similar vein, the intestacy provisions treat full siblings and half siblings differently regardless of your actual relationship. Furthermore, step-children are not included in the definition of children meaning that they would not inherit under the intestacy provisions. The provisions do not, therefore, cater for every family and are particularly problematic for the blended family.

Finally, the intestacy provisions do not provide for those who are living together as spouses but who are not actually married or have entered into a civil partnership. As marriage rates fall in the UK, this is increasingly likely to be an issue for people relying on the intestacy provisions. With myths about “common law marriage” in circulation, couples who are not married, or who have not entered into a civil partnership are often not aware of their legal position.

Celebrities Who Died Without Making a Will

People who die without making a will are said to have died intestate. Often we presume that celebrities with extremely valuable estates will have had legal advice during their lifetime and will have their affairs in order, but this is not always the case.

One surprising celebrity who died intestate was Abraham Lincoln, the 16th President of the USA. Lincoln had a successful legal career in Illinoi yet he did not make a will. His estate was split between his widow and two children.

Whilst this is likely to be similar to what Lincoln would have arranged in his will, the same cannot be said for other celebrities such as Amy Winehouse. Amy Winehouse also died intestate and her estate of around £3 million (after liabilities) all went to her parents. As a 27 year old woman it is likely that there were other people who she would have chosen to benefit and rumours have questioned her relationship with her father and whether she would have intended to benefit him. Amy Winehouse also had an ex-husband who it was speculated that she still loved and may have included in her will if she had made one.

The famous singer, Prince, also died intestate and was therefore not able to benefit any of the many charities that he contributed to in his lifetime. Prince’s estate was distributed between his six half-siblings who, as well as not necessarily being who he would have intended to benefit, had years of dispute including two court cases regarding the distribution of Prince’s estate. This demonstrates how dying intestate neither follows your wishes or looks out for your loved ones.

These are just a few of the celebrities who have famously died intestate, showing that it is not just us “normal people” who can be reluctant to prepare a will but that it is imperative that you obtain professional advice rather than leaving it to chance.