What happens if I do not make a Will? - The consequences of not making a Will can be very serious. If a person dies without having made a Will he or she said to have died 'Intestate'. This means that the estate will be distributed in accordance with the Intestacy Rules laid down by Parliament in 1925. For married people with children the law will allow the surviving husband or wife all personal possessions and a 'statutory legacy' of £125,000. Anything beyond £125,000 is effectively shared by the spouse and children.

If there are no children then, in addition to your personal possessions, your spouse would receive the first £200,000 of your estate the remainder being shared equally between your spouse and other relatives. It is worth mentioning, however, that assets held in joint names will usually automatically pass to the surviving joint owner and will not form part of the Statutory Legacy.

A problem which arises quite often is when the home is in one spouses' name only, resulting in the property not passing automatically to the surviving partner. If there are children and the house is worth more than £125,000, the spouse's statutory legacy is used up. This is assuming that the surviving spouse effectively wishes to buy the property from the estate. This might leave very little for your spouse!

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