Mar 7 2007
Not drawing up a will can lead to family problems if someone dies intestate, according to an expert.
If Britons do not execute a will before they die, children and spouses suffer the consequences as the law of intestacy comes into effect and assets will be frozen until funds are distributed appropriately, claims a spokesperson from Saga.
Steve Ashton from the financial services company also notes that not only is it vital to make a will, it is also imperative for people to keep the document up to date in the event of changed family and other circumstances.
Mr Ashton says that if someone with surviving sons or daughters dies intestate: "The spouse only receives £125,000 of the assets plus their personal belongings and then everything else is split equally among children."
The expert was speaking in the wake of a new survey from Will Aid which found that seven out of ten UK adults have not drawn up a will.
US publication Post Star recently asserted that the death of tabloid celebrity Anna Nicole-Smith demonstrates the importance of executing a will and ensuring it is kept updated as disputes over her burial and inheritance issues reached the courts.
