"Where there's a wedding there's a Will ....or not!" The wedding of Prince William and Kate Middleton may have had you oohing and aahing at the pomp and circumstance, but did it make you think carefully about the legal implications of marriage and what it means for the succession to your estate never mind the succession to the Crown and the future of the monarchy? Probably not!! Are you Scottish and don't have a Will? Read on...
Did You Know?
Around 70 % of us don't have a Last Will and Testament, never mind an out of date one.
So Why Don't We Put our Affairs in Order?
Excuses include:
I've nothing to leave
It's too expensive
My wife will get it all anyway
Everyone leaves something behind and without a Will outlining your instructions you risk your estate passing to beneficiaries you would not wish to inherit or the beneficiaries you thought would inherit not getting a penny.
Under Scots Law, once married a spouse automatically gains legal rights to all or part of the deceased spouse's estate depending on the estate. For example if a spouse dies with no will:
Leaving £100,000 in cash - it may not all go to the spouse
Leaving the family's house valued at £100,000 - it will go to the spouse
Leaving the family house worth £400,000 - the spouse may not inherit it all
The recent criminal case involving Webster demonstrated the lengths a spouse might go to inherit. The law will disqualify an "unworthy heir" especially one responsible for the death, but will not exclude those simply "undeserving".
Marriage does not revoke a pre-existing will. I have had newly weds tie the knot at the church and sign their Wills there too! Whilst we might ridicule that approach at least they had thought about the legal consequences. It should also be noted that a will is still valid following a separation or divorce.
The costs of completing a will is not expensive and in some cases advice and assistance from the Scottish Legal Aid Board is available. The costs of sorting out an intestacy (no will) however can be expensive. Whatever your circumstances you should have a will and keep it up to date.
To discuss your individual circumstances or to ask about making a Scottish Will please contact our team.
