Cohabiting?

From todayswillsandprobate.co.uk

There is an ‘alarming gap’ in the public’s understanding of inheritance laws after two thirds of cohabitees said they didn’t know what would happen to their estate if they died without a Will. 

A fundamental lack of understanding of the rules of intestacy is evident in statistics that suggest a quarter of people mistakenly believe their estate would automatically pass to their partner and 7% thought it would go to ‘close friends.’ The survey was conducted by Will Aid, the national Will-writing campaign, as it ramps up activity ahead of Will Aid month in November.

The charity campaign is a partnership between the legal profession and eight UK charities; .Age UK, British Red Cross, Christian Aid, NSPCC, SCIAF (Scotland), Trócaire (Northern Ireland), and, new for this year, Shelter and Crisis. The initiative has been running for 35 years and sees solicitors draft Wills for their clients for no charge, instead encouraging a voluntary donation to Will Aid; the suggested amounts are £120 for a single basic Will and £200 for a pair of basic ‘mirror’ Wills. While the Will drafting service is free of charge, any additional services such as Lasting Powers of Attorney, or trusts are chargeable.

The survey also revealed one in fire simply didn’t know what would happen in the event of their death without a Will, and 17% said they ‘never even thought about the issue.’

A recently published report suggested the number of people with a Will may have fallen in the last year, putting the number at 37%; a fall from a previously reported figure of 50%. It suggested  far fewer younger adults had written their Will than older adults. Just one in five 18-24 years olds have a Will in place; 33% of 22-34 year olds have a Will; 31% of those aged 35-44; and 32% of 45-54 year olds have a Will. Unsurprisingly 56% of over 55’s have a Will in place.

Trusha Velji, solicitor at Touch Solicitors said there was a common assumption people who live together for a period of time become common law husband a wife. But the concept of common law marriage ‘ceased to exist a very long time ago.’

Peter de Vena Franks, Will Aid Campaign Director, added

“Will Aid is the perfect opportunity for unmarried and cohabiting partners to get a professionally written Will in place. Without a Will, surviving partners may not be automatically entitled to inherit, leaving them in a vulnerable position – and it’s particularly worrying that so many people aren’t aware of this, and don’t fully understand the Rules of Intestacy.

“By participating in Will Aid, couples can ensure their wishes are clearly documented, giving both partners peace of mind that their loved one will be provided for in the event of their death.”