Thursday August 16, 2018
The short answer to the above question is Yes. Absolutely you need a Will.
Many unmarried couples who jointly own a property assume that they will inherit their home in full if their partner dies. However, the law states that surviving partners need to signal their intentions in a formal Will to prevent their share going automatically to the next-of-kin. Which might not be what was intended of course. Worryingly, research discovered that more than two thirds of unmarried Brits who live with their partners are not aware what their rights would be if their loved one should pass away. In fact, only a quarter of cohabiting partners have a Will, compared to over half of married couples.
As our society changes, marriage becomes further down the agenda for many couples. It is increasingly common for partners to live together for extended periods of time before getting married. If they get married at all! However the Law is somewhat old fashioned and slow to progress with change. Consequently many Brits are under the false impression that they have the same legal and financial security as married couples.
If this resonates with you then please do get in touch. We work closely with experts who can help you whether you are a young couple starting out in life or a mature partnership with many shared assets. Just email or call us and we will do our best to help point you in the right direction.