According to published research, 60% of adults in the UK do not have wills - I still find this incredible if not dismaying.
If you die intestate - that is, without a will - the state oversees the allocation of your assets, which it will typically distribute according to a set formula.
Such a scenario sometimes results in the sale of the family home or other assets, which can negatively affect a surviving spouse who may have been counting on the bulk of your assets to maintain his or her standard of living.
Further complications may ensue if your children are minors, as the court will appoint a representative to look after their interests – it’s not necessarily all about money!
Bishop Fleming provides wealth management advice to individuals, offering a personal and bespoke approach, having listened to your concerns and what you would like to achieve.
Writing your will should be considered alongside such planning.