The Wife Gets Everything…
A lot of people assume that if they die, their spouse will get everything. That isn’t how it works at all.
If you’re a married man with a wife and kids, your wife will only get the first £250,000 of your estate. She’ll get a right to income only in half of the rest. Everything else goes straight to the kids at 18 – ready or not!
If you don’t have any children, your wife gets the first £450,000 – but still, only a right to income from the remainder. The rest will go to your parents, or – if they aren’t alive – your brothers and sisters.
Worse still – if you die without a wife, children (or grandchildren), parents or siblings, everything goes to the Government.
And if you have a significant other, who isn’t your wife (or civil partner) they don’t get anything, unless they can prove they were financially dependent on you.
So if you want to leave everything to your spouse or significant other, get a will!Talk to Barnes Roffe today