1 / 7

Significance of Will Writing for Unmarried Couples and Families

A lot of individuals believe that if a couple has been together for a long time and they live together, they are "common law" husband and wife.

Phoebe_Lambert
Download Presentation

Significance of Will Writing for Unmarried Couples and Families

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. SIGNIFICANCE OF WILL WRITING UNMARRIED COUPLES AND FAMILIES NAYYARSSOLICITORS.CO.UK

  2. CONTENT 01 02 03 04 05 06 INTRODUCTION A WILL: WHAT IS IT? WHAT RIGHTS RELATED TO PROPERTY DO UNMARRIED INDIVIDUALS HAVE IN THE UK? DO SEPARATE PARENTS NEED TO CREATE A WILL? WHAT INFORMATION SHOULD SEPARATE PARENTS' WILLS CONTAIN? CONCLUSION

  3. INTRODUCTION: A lot of individuals believe that if a couple has been together for a long time and they live together, they are "common law" husband and wife. It is a false belief. If there is no Will in place, unmarried couples have nothing to pass on when their partner passes away. Putting a Will into effect guarantees that your spouse receives the advantages of your estate, including any property, savings, or care for your pet. You can take some help from some expert organizations through Will Writing Manchester.

  4. A WILL: WHAT IS IT? The only means by which to guarantee that your money, property, assets, and investments go to the individuals or organisations you care about is to create a legally enforceable will. In case you have kids, a legitimate Will can enable you to name someone to look after them in the event which you pass away. One of the most important pieces of paper a person may own is a will, but sadly, most of us put off creating one for far longer than necessary. A Will, in its most basic form, is a directive and protective agreement which specifies what you wish to do to your property and possessions after your passing. WHAT RIGHTS RELATED TO PROPERTY DO UNMARRIED INDIVIDUALS HAVE IN THE UK? Unmarried couples who have lived together for a time exceeding two years may be able to file a claim against their partner's estate. Nevertheless, until they are jointly owned, you aren't immediately entitled to any of your partner's estate as an unmarried couple, including belongings, financial assets, possessions, etc. The Inheritance (Provision for Family and Dependants Act of 1975) allows you to file a claim, but it is a costly, drawn- out, complex procedure with no assurance of success. You can guarantee that your partner is safeguarded and taken care of in the years to come by just making a Will.

  5. DO SEPARATE PARENTS NEED TO CREATE A WILL? The creation of a will is vitally essential if you are a single or divorced parent. Did you realise? Following the Rules of Intestacy, your fortune would transfer to the kids if you have minor kids and don't create a will. Most likely, you want that exactly! Nevertheless, the surviving parent was going to be in charge of managing your estate, selling any private property, and holding onto everything you owned for the use of the kids until they were 18 years old. The majority of individuals wouldn't want their former partner in charge of their assets. This may be avoided and you may make sure you maintain control by creating a will & designating an executor & trustee.

  6. WHAT INFORMATION SHOULD SEPARATE PARENTS' WILLS CONTAIN? As previously mentioned, you ought to make sure that your will is precise and reflects your wishes for what would occur after your passing. The Rules of Intestacy take control and could misrepresent your objectives if you fail to draught a Will outlining your intentions. Your loved ones can feel upset and suffer financial loss as a result. The specific sequence in which your estate is going to be left is known as intestate succession. It involves a spouse, kids, siblings, parents, great-aunts, great-uncles, second cousins twice removed, and other relatives. Whenever there is no legitimate Will, everyone is eligible for inheritance from a family member.

  7. CONCLUSION: It is impossible to stress the importance of will drafting for families and unmarried couples. Unmarried couples and families may offer their loved ones peace of mind, preserve their freedoms and desires, and guarantee their belongings are dispersed by their intentions by drafting a legally enforceable will. Writing a will is an essential step in securing the future and fostering peace of mind for families & unmarried couples.

More Related