Will Advice Please

A question about : Will Advice Please

We're both in our 50's, me 56 and her 53 without a will. We have a 21 yearold son. We have lived together as Man & Wife since 1988 although not married.

I have one brother. She has two sisters and one brother. We both have ourMother's alive.

We have a paid for property, Ј150,000, cash savings, circa Ј80,000 and two cars (Ј15,000). She has her own savings of circa Ј32,000

In July I take early retirement and will take my works pension and will havecirca Ј200,000 from severance and pension lump sum.

So if we don't make a will and she dies first what claim if any would one of her sisters and her brother have on her/our estate? These two are haven't gottwo halfpennies to rub together. I wouldn't expect the other sister to belooking for a cut of her estate.

Best answers:

• They have no claim - you have a son. If you aren't married and don't have a will (depending on how the house is owned) then you would follow intestacy rules which I believe says that your son would get whatever is left by the one who dies, whichever of you that is.
• If it is in joint names and not tenants in common then I believe you inherit. He would get any cash in his mothers name only. Or of course your name if you die first. Why on earth would he "do you over"? You need to check out rules of intestacy, although I suspect it is your partner who should be doing that and ensuring she writes a will so that you do not "do over" your son!!
• Hi,
  eh, why not just draw up a will, then you can choose who gets what.
  See a solicitor, shouldn't cost more than Ј100, for peace of mind.
• You are currently very exposed to the Son getting hold of the assets should one of you go.
  The other issue is that your estate is over Ј325 so exposed to IHT when you die.
  if you have will and inherit each others then it just gets worse on second death as no transferable nil rate band.
  If your son dies first then the siblings come into play.
• If you bought in 1988, then I think it is quite likely joint as tenants in common was not as usual then, but you need to find this out because it makes a big difference to who inherits.
  I believe it is the same for any JOINT bank accounts too (only believe - not sure).
• I don't understand why you wouldn't just make wills tbh.
• OP you should also check what entitlement your partner has to your pension if you predecease her. They don't all pay out to unmarried partners, especially the older ones. You and your OH are potentially in quite a vulnerable position. I'd use this as an opportunity to get all your financial affairs in order and make sure the other has as much legal protection as possible.
  Regarding tenancies, if you have a joint tenancy you have equal shares, and when one joint tenant dies their share goes to the other. It's if you're tenants in common that you might run into trouble.
• Yes, that was my thought. So I was wondering what IHT advantages OP and his partner are enjoying by remaining unmarried and without wills?