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More than 2m cohabiting
couples at risk of leaving finances in legal limbo
THE ONS revealed the number of
cohabiting couples rose by 46% between 2002 and 2014, from 1,407,862 to
2,055,542. Gary Rycroft, solicitor and member of the Law Society's Wills
and Equity Committee, said cohabiting couples need to make sure they have a
professionally drafted will.
"It is vitally important couples that are not married or in a civil
partnership have a will drawn up by a professional solicitor," he said.
"Under intestacy rules, if no will is in place assets pass automatically
to the closest blood relatives who are often children of the deceased or parents
or siblings.
This means if you die your surviving partner could be left in an emotional and
financial mess, with no access to vital funds to help them cope.
Dying without a will not only means your final wishes could go unmet, but could
leave problems for your loved ones to sort out. Don't make this mess your
legacy."
Under the intestacy rules, only partners who are married or in a civil
partnership can inherit. If you are not in this position your children will be
entitled to your entire estate; leaving your surviving partner with nothing.
Mr Rycroft said consumers need to be able to distinguish between those who are
unregulated, uninsured and untrained, and solicitors who offer a quality
service. "Using a regulated solicitor who is a member of the Law Society
is the only way to give you future financial security".
Sarah Bibby, 37, a designer from Redcar, North Yorkshire, has been in a
relationship with Rob Allinson for 17 years and they have 2 year old twins,
Charlotte and Ethan. Sarah said learning she would inherit nothing if Rob passed
away without a will had reinforced her desire to get one written as quickly as
possible. "We realise we need to draw up a will and intend to make it a
priority. Learning we could be left high and dry has really focused our minds.
If Rob died, not only would I have to deal with the grief, I could be left with
a financial crisis on my hands as well as struggling to raise 2 children.
Wills force you to confront some difficult questions, and I think this puts
people off getting one. But ultimately it's in your family's best interests to
confront these questions head on."
To find a solicitor specialising in wills and probate visit the Law Society's
Find a Solicitor service
website. Alternatively, search:-
'Find a Solicitor' from your web browser. To find out more about
cohabiting and the associated legal issues, please visit the Law Society
website. |
