Civil Partnership wills, inheritance law, intestacy rules and tax liability applies in exactly the same way as it would with a married couple. If you`re in a civil partnership it is important to make a will to ensure your last wishes are fulfilled, your partner is provided for after your death and to avoid disputes. IWC offer wills for Civil partners.
IWC offer a will writing service for civil partners, with a full range of services including home consultations, lasting power of attorney, irrevocable will writing, will updates and online wills. Call us for more information and free advice.
Since the end of 2005 Civil Partnerships became legal relationships for same sex couples. For the purpose of making a will and inheritance tax the union is just as significant as marriage. Here are some points to note regarding Civil Partnerships and wills, intestacy and inheritance.
It prevent the lengthy process of intestate death and are the only way to ensure your last wishes are carried out. Your civil partner will only inherit the first £250,000 of the estate, the other half will be divided up between your partner and any children you have. If you have no children, your partner will inherit the first £450,000, half of the remainder will also go to your partner and the rest will be divided between parents, siblings, nephews and nieces.
In such wills where the entire estate is bequeathed to the civil partner are exempt from inheritance tax, just like a husband or wife would be.
If you enter into a Civil Partnership, any previous will that you wrote will be revoked, just as a marriage would revoke an old will. That is unless the original will had specific instruction that it should not be revoked by the partnership.
The dissolution of a partnership does not automatically revoke your will. As in a divorce for a heterosexual couple, if you were to die your will would be read as though your divorced partner had pre-deceased you.
Any changes to a civil partnership will have ramifications when it comes to inheritance law and you`ll need to update your wills.
Call IWC for help regarding Civil Partnership wills.
Just like heterosexual couples who live together but are unmarried, `common law` partners or couples who co-habit, cannot apply for probate or inherit under the laws of intestacy. The statutory law in the event where someone dies without making a will is a strict hierarchy based on the deceased next of kin. This goes in the order of spouse/civil partner, children, parents, siblings, children of brothers and sisters, etc.
When assets are in joint names, the deceased`s half is bequeathed according to these rules. This can leave the surviving partner in legal and financial crisis, with no rights whatsoever. The importance for couples who live together to make a will cannot be stressed enough.
Whether you need advice on wills, or you`re not in a civil partnership but would like to ensure both partners are provided for in the event of death, call IWC for free help and advice