What happens if you never make a will?

If you were to not make a will, when you pass away, you will have died ‘intestate’.

Think of a will as a set of statutory rules, which specify how your assets are distributed to family members, and this can be in a fixed order. If you have no family members then your assets will go to the Crown. The real risk of ‘dying intestate’ is that you will not have have a say on who gets what, and after all, they are still your belongings! We can understand that if you had some family members whom you would not wish to inherit your assets, this may be a wise option, but there should always be a better cause than the Crown in our opinion. Even if you were to give the money to charity it would make more sense, so this is why it’s so important to ensure you have a will. Likewise, any people who are not blood relatives, such as unmarried partners, may not receive anything. It is therefore critical that you make a will to avoid this situation if you don’t want your loved one to miss out.

Joint Property Ownerships: The potential problems

Let’s first explain what joint property ownership is. If a property is held jointly with right of survivorship, when the first owner dies, the surviving joint owners in the normal course automatically become the owner of all of the property. So let’s say a brother and a sister own a house together. They each have two children.

When the parents have both passed, they will each own a quarter of the property. There are potential problems with this though, and it’s usually due to a conflict of interests. If one individual wants to keep the property but the others want to sell, the property will be sold, unless the one that wants to keep it can buy the others out, but of course a price needs to be agreed one. That can be the case if two want to sell, they can force the sale, so really it’s just a case of an individual or a couple of individuals in this instance feeling as though they’re losing control, and this can often cause disputes.

Things To Remember Before Buying Legal Expenses Insurance

Legal expenses insurance is a worthwhile investment for those who want the financial assurance in regards to future legal costs. However, this often expensive insurance is already included in other polices.

Are Already Covered?

Before buying legal expenses insurance (or any kind of insurance) make sure your car and house insurance policies don’t already include it. Some professional companies also offer free legal advice, so check to see if you are able to receive that too

Make Sure Not To Over-Insure

When purchasing legal expenses insurance, make sure not to over-insure. Certain policies ask for classification as ‘you’ being the person named as the policyholder in the schedule. However, many policies often include partners and members of the family while only asking for the name of one policy holder. For these policies you and your partners and/or family will be covered, so you won’t need to take out other policies to cover them.

Understanding Travel Insurance Policies

Travel insurance is an important part of any foreign visit. It covers travellers medical bills, theft and other additional expenses should these events occur.

Travel insurance is broken up into two different types of policies, single-trip policies and multi-trip policies. The most often used policy is single-trip. These are common among travellers who seldom travel more than once or twice a year. They are best suited for those who know exactly how many visits they will be making over the course of a 12-month period.

Multi-trip policies are often used for business visits, they offer cover for every trip made over the course of a year. They are excellent for travellers who have to make unexpected international visits regularly, and are more cost-effective than single trip policies over long periods of time.

On average, a single-trip policy can cost less than £4.11. Annual cover starts at around £25, however this extra cost is quickly recouped if several international visits are made during its duration.

Why Conveyancing Checks Are Important

Conveyancing is the transfer of a legal title from one person to another. Usually carried out by a lawyer, conveyancing is a process used commonly when properties are bought and sold.

During a conveyancing process there are a variety of different checks that have to be done for the process to be a legal transfer.  These checks are important because, they involve making sure that the site is occupied legally, that the property isn’t threatened by any redevelopments in the area or that the property isn’t subject to a compulsory purchase order. All of which are important for people who want their new property purchase to be a legal one.

The Government has plans to introduce online conveyancing which will involve the online registration of land. This will ultimately dispose of the necessity for lengthy background searches and make purchasing property much easier and more secure for the buyer.