When an adult dies in the UK
their assets such as their property, money and financial affairs must be
transferred to the beneficiaries. Legally this process is known as
Administrating the Estate. Often the estate matters are straightforward and
their distribution requires little or no complications. On the other hand, some
estates are made up of several properties and businesses with several
stakeholders. Regardless of which, all estate matters can be dealt with
systematically with the presence of a valid will. In the text below will and probate solicitors have
identified the various problems with dying intestate.
There no
room for modern relations:-
The rules of intestacy are very
strict and there is room only for direct family. The intestacy rules have no
room for modern family relations such as step children, unmarried couples,
unregistered partners, step brothers and sisters usually end up inheriting
nothing at all. Therefore it is recommended by leading will and probate solicitors that one makes a will if he/she has
specific guidelines regarding the distribution of the estate.
Greater
Chances of Error:-
Only the rules of intestacy
determine who will benefit from the estate, this can involve identifying
individuals from a complex family tree. Due to these complexities the
administrator is capable of making errors. Under such circumstances, the
administrators may be held financially liable for any loss resulting from the
breach of duty.
For more information you are
welcome to get in touch with the will andprobate solicitors at Walker
Wise Solicitors by phone on 01254 300
966 or email enquiries@walkerwise.co.uk.
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