13 February 2009
Still important to make a will, organisation says
It is still important for people to make a will, despite recent changes in the law which mean that widows and widowers are to receive bigger payouts if their spouse dies intestate.
This is according to the Motley Fool, which claims that these changes should not be viewed as an excuse to avoid drawing up such legal documents.
At the beginning of this month, new rules came into force in England and Wales under which people who experience the death of a marital partner when there is no child involved can receive up to £250,000, as opposed to the previous limit of £125,000.
The Motley fool stated: "You shouldn't assume your spouse will automatically be entitled to everything when you die.
"What's more, even taking the new rules into account, your spouse could still lose out on a substantial share of the assets if there's no will to state otherwise."
Research published last month suggested that 79 per cent of households with dependent children have not drawn up a will.