Still Not Made a Will?

Every year in the UK a third of those who die have not made a will, this means that dealing with their estates can be more costly, more complex and can take longer than if they had taken the simple step of making a will.

Where a person dies without a will they are described as intestate, this means that their estate is dealt with in accordance with legal rules rather than the persons wishes. This can have unexpected consequences as the law does not necessarily recognise unmarried couples or children who although not a person’s child might have been raised by that person. Similarly couples who have been separated for many years but never divorced are treated as if they were still together. This can often mean that people who the deceased would not want to benefit from their death do benefit and those who they would want to benefit do not.

Worse still if the person has no will and no immediate family members there is a chance that their estate could fall within the bona vacantia rules. Bona Vacantia, which literally means vacant goods, is the system whereby the government takes control of unclaimed estates, if no beneficiary is found then the entire estate is taken by the government.

If an estate becomes bona vacantia it is published on a list by the government’s legal department, the Treasury Solicitor. This list is then poured over by “heir hunters” who try and find beneficiaries for the estates. These companies, one of which has featured in the BBC television series Heir Hunters, will often take up to 40% of the value of the estate in fees.

So for the relatively small cost of making a will you can ensure that your wishes are carried out and avoid additional costs associated with intestacy or, worse still, bona vacantia.