Will-writing

[lethargic_man]

I don't have a will. In my twenties, this wasn't an issue, as I had little of value to my name. (As a result of taking a year off and doing three degrees, I didn't start earning until I was twenty-seven, and working for the BBC I wasn't exactly raking it in at first.) Some years later bluepork told me there's little point writing a will until such time as I have children, so I put off writing one further.

The other day, I got cold-called by a will-writing company who told me that without a will, there's no guarantee my assets would return to my family, and it's possible a neighbour could try and claim on them. Does anyone reading this know whether this is just scare tactics trying to get me to pay for their services, or whether there is anything to this? Also, is it worth writing a will when you don't (yet) have children, but do at least have a flat to your name?

Comments

[lethargic_man]

What you should definitely definitely do is find out what actually happens on intestacy from an authoritative source; ephemera's link to a .gov.uk page looks promising.

That said my father.

You should also not trust random people pontificating on the internet, because most people-on-the-internet really don't know anything about the law, they make assumptions based on half-digested American blogs or what they think the law ought to be. Yes, that also means you should not trust me

Well, you're hardly a random person on the Internet.

If you have a flat in London, given how completely irrational the London property market is at the moment, it is very likely to be worth enough that there will be tax implications to intestacy.

I believe my total worth is still under the threshold for inheritance tax.

Also, I can't remember if you still have a mortgage but if you do your liabilities will be inherited along with your assets and this can get complicated really easily, so that's another strike in favour of getting your will sorted out.

bluepork told me years ago my mortgage will be paid off (by my life assurance presumably) in the event of my demise.

I know you care about what happens to your body after death; carrying your Halachic Organ Donor card should be enough but a will would help to reinforce that.

A will is far far too late for that; by the time the will's read out, I'll be in the ground.