Posts tagged “intestacy”

Whether it’s your first purchase, or one of many, buying a property is a big investment that will be included in your estate. 
 
Although you aren’t required to have a Will in place when you buy a property, it’s important to be clear about what you want to happen to it when you die. 
When someone dies the process of releasing their assets is called probate*. This must be completed before beneficiaries can receive their share of the estate. 
 
The exception is when all the property is jointly-owned and money passes to a spouse or civil partner. 
 
If you are dealing with probate for the first time this can all be quite daunting, so here are some things you might want to know. 
When you have taken the time to make your will you’ll want to be sure your your wishes are going to be carried out. 
 
Unfortunately, there are a number of things that can make all or part of your carefully considered will invalid. 
 
If your will is not legally valid your estate will be shared out under the rules of intestacy, which will not necessarily be as you would wish. 
In the television show ‘Family Fortunes’ relations work together. Unfortunately, it’s not always the case. This is a true and very sad story… 
 
Two sisters eventually escaped from their violent father and drunken, uncaring mother. In their adult lives they helped and supported each other. 
 
One of the sisters started a family and built a strong network of friends. Unfortunately, the other sister’s emotional scars from their early childhood experiences went so deep that she was unable to resist them. 
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