Don't leave a financial mess after you die – make a will

More than half of us haven’t written a will, which means we could be leaving behind an administrative nightmare when we go.

If you live in Cornwall and die intestate, Price Charles gets your money
(Image credit: 2019 Getty Images)

More than half of us haven’t written a will, even though this means we could leave a terrible mess behind when we die. Many assume that if we die without a will our estate will still make its way to the right people, but this is not true. When there is no will your assets are split according to the rules of intestacy.

This means that , in England and Wales, if you are married, or in a civil partnership, and die without a will, your spouse inherits your personal possessions plus the first £270,000 of your estate. The remainder is split between your spouse and surviving children or direct descendants. If you have no direct descendants, your spouse inherits everything

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Ruth Jackson-Kirby

Ruth Jackson-Kirby is a freelance personal finance journalist with 17 years’ experience, writing about everything from savings accounts and credit cards to pensions, property and pet insurance.

Ruth started her career at MoneyWeek after graduating with an MA from the University of St Andrews, and she continues to contribute regular articles to our personal finance section. After leaving MoneyWeek she went on to become deputy editor of Moneywise before becoming a freelance journalist.

Ruth writes regularly for national publications including The Sunday Times, The Times, The Mail on Sunday and Good Housekeeping, among many other titles both online and offline.