Busting five common myths about Wills
By Cristian Angeloni, 6 Nov 19
As mutual insurer Royal London discovered 57% of Brits don’t have one
Click through the slides below to find out more
Taking things for granted always poses risks.
I’m cohabiting with my partner, so they’ll inherit my assets when I die.
If you are cohabiting with a partner and not married, they would not be entitled to assets only owned by you if you were to die without a Will. If there are jointly-owned assets, the other owner would normally inherit them.
Children would have a claim on the assets but if there are no children, the assets would be passed on to parents and siblings. A cohabitee has no rights under the law of intestacy (dying without a Will in place).
Royal London asked the public who would inherit the assets of someone who is cohabiting with their partner but has children from a previous marriage.
Worryingly, three in four (74%) either gave an incorrect answer or did not know.
My Will is valid across the UK.
The research also found that around nine in 10 (87%) people are not aware that a Will written in England may not be valid in Scotland.
If you have written a Will in England and since moved to Scotland or vice versa, you should consider taking advice.
Tags: Royal London | Wills And Trusts
