Do you have a will?
The most important part of inheritance and estate planning is having an up to date will and testament. Don’t assume your wealth or assets from your legacy will automatically go to the people you want it to. If you die without a will, it means you have died “intestate”. When this happens, your estate must be shared out according to certain rules. This becomes complicated if a couple jointly owns a property and it will impact on the amount children can inherit if there is a surviving married or civil partner. In estate planning, having a will in place makes it simpler for your loved ones to organise things at what will inevitably be a difficult time for them.