Cohabitees Should Consider Making A Will
Cohabitees should consider making a Will
It is common these days for couples to cohabit for several years before getting married or entering into a civil partnership. Unfortunately many people who live with their partner, rather than marry or become civil partners, do not realise that their shared assets will not receive the same legal protection when they die as if they were married or in a civil partnership. This is why it is very important to make a Will if you intend to remain as cohabitees and want to ensure that your partner receives a share of your estate.
If you die without making a Will and without being married or in a civil partnership, your partner will receive nothing from your estate under the intestacy rules; even if you are engaged. You may want them to inherit all of your money, your valuable record collection, and all of your photographs. However, if you do not make a Will, depending on your family circumstances these items and the rest of your estate could end up being shared between your parents, siblings, or grandparents.
It may be even more problematic if the home you share is held in your sole name, as your partner is likely to have no claim to a share of the property on your death; regardless of the length of your relationship or whether you have children. This could significantly affect your partner if they spent time caring for your children and looking after your home rather than developing their careers.
You should think about how you would like your estate to be divided and make a Will as soon as possible if you want to ensure that your partner receives a share of your home and any of your sentimental belongings.
To discuss any of the issues raised above, please contact a member of the Private Client team on 01384 410410.