A recent study has revealed that the number of unmarried couples making inheritance claims after the death of their partner is on the rise. This trend is particularly concerning as cohabitating couples are not afforded the same legal protections as married couples.
Inheritance Claims And The Implications of Intestacy Rules
If you pass away without a Will, the rules of intestacy will determine who inherits your assets. These rules do not take into account your unmarried partner, which means that they will not receive any of your assets.
This can have devastating consequences for your partner, who may have relied on your financial support. They could be left with nothing and may need to apply to the court for provision from your estate.
The Importance of Making a Will
If you want to ensure that your partner is looked after when you pass away, it is crucial to prepare a Will. This document sets out your wishes for the distribution of your assets and ensures that your partner is provided for after you are no longer here.
Many cohabitating couples do not have Wills in place, leaving their partners vulnerable to financial difficulties in the event of their death. This is particularly concerning given the significant rise in the number of cohabitating couples in recent years.
Don't let the rules of intestacy dictate what happens to your assets after you pass away. Take control of your estate and protect your loved ones by making a Will. This simple step could make all the difference for your unmarried partner.
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The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.
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