The Importance of Having a Will

Writing a Will is one of the most important things you can do to protect your loved ones after you pass away. It ensures your assets are distributed according to your wishes, avoiding not only confusion and distress for your family but also unnecessary legal costs. Without a Will, your estate will be distributed according to the rules of intestacy. This can lead to results you never intended and more importantly may not reflect your personal wishes.

What is Intestacy?

If you die without leaving a valid Will, you are said to die “intestate.” In Scotland, the Succession (Scotland) Act 1964 sets out who will inherit your estate. These rules are strict and can result in outcomes you might not want. For example, your spouse or civil partner will receive a certain share of your estate, but the rest might go to children or other relatives in a way you did not intend.

This can be especially problematic if you are unmarried, cohabiting, or have complex family relationships. Your partner, if you’re not married or in a civil partnership, will not automatically inherit anything. Instead, your estate could pass to more distant relatives, or even the Crown if no family can be found.

Section 2 of the Succession (Scotland) Act 1964

Section 2 of the Succession (Scotland) Act 1964 sets out the order of inheritance if you die intestate. Your estate is divided into “prior rights” (which go to your surviving spouse or civil partner), “legal rights” (for both your spouse and children), and the “free estate” (what remains after prior and legal rights have been satisfied).

Your surviving spouse is entitled to prior rights, which include:

 – The family home (up to a certain value)

 – The contents of that home.

 – A sum of money depending on whether you leave children or not.

After this, your children (or descendants) may claim legal rights on your net moveable estate. Moveable estate is everything that is not heritable estate i.e. bricks and mortar, this can include many assets you would not normally think of i.e. cars, bank accounts, investments etc.

Without a Will, these rules apply regardless of your specific wishes, which could result in an outcome you did not want.

Why Having a Will Matters

Putting a Will in place gives you control as to who inherits your estate and how it is divided. It allows you to:

– Ensure your assets go to the people or causes you care about.

– Leave provision for your partner if you are not married or in a civil partnership.

– Appoint guardians and/or make long term provision for young or disabled children.

– Reduce the likelihood of disputes among family members.

– Make your wishes clear, reducing stress and legal costs for your family.

How to Write a Will

Writing a Will doesn’t need to be a daunting process. A solicitor can help you draft a document that reflects your wishes and complies with Scottish law. It’s also important to regularly update your Will to reflect changes in your circumstances, such as marriage, divorce, or the birth of a child.

If you don’t have a Will in place, or you think your current Will needs updating, it’s wise to seek legal advice to ensure your wishes are respected, and your loved ones are protected.

If you are looking for an experienced Private Client solicitor, would like to discuss matters or gain a greater understanding of any element of the process of making a Will, then please contact our experienced Private Client Team on 01324 622 888 or contact help@randa-fa.co.uk and we would be delighted to assist.