Moving in together is an exciting next step but without an up-to-date Will could you be leaving your partner, and any family you have, in the lurch?
The ‘new home’ cards are still up. There are boxes yet to unpack. So, bringing up the subject of death and ‘what if’ is often put to the back of minds. No one wants to think about death or disaster when they are celebrating the joy of moving into a new home, with their partner, but this key milestone should prompt you to think about your Will.
However, since it’s probably the biggest financial commitment you make, you really do need to consider what would happen should the worst happen. Indeed, in Scotland the rigid laws about who inherits your property if you die without a Will can have unforeseen consequences.
"Unlike spouses and civil partners, cohabitees don’t have an automatic right to inherit."
Making a Will can safeguard the future of your loved ones and the home that you’re building together. Otherwise, their fates may lie in the hands of the law and the law may not work in their favour.
What are the risks of dying without a Will when you own a property and cohabit?
No automatic rights
Unlike spouses and civil partners, cohabitees don’t have an automatic right to inherit on death. Depending on your property’s title deeds, your cohabitee may only be entitled to a partial share of the property or, even, no share at all.
Time is ticking
It’s possible for a cohabitee to claim on your estate if you die, but there’s a strict time limit of six months to do this, and any claim is at the discretion of the court. This adds to the pressure on your partner, and other family members, at an already difficult time.
Your wishes go unheard
Alternatively, a cohabitee you never wanted to inherit the property could be successful in a claim in court, at the expense of your intended beneficiaries of your property.
Your children miss out
Your estate could end up embroiled in costly and time-consuming legal disputes adding unnecessary costs to your partner and family members during an already difficult time.
Legal disputes
Your estate could face legal disputes and incur additional fees for your partner and family.
Wills need updating
If you already have a Will, that’s great. Is it up to date? Does it reflect your current wishes? You should certainly review it, particularly at key milestones, and ensure it reflects any change in your circumstances, family dynamics or relationship status.
"Making a Will can safeguard the future of your loved ones and the home that you’re building together.
So, don’t bury your head in the sand and hope for the best with your new home together, it’s much safer to make a Will. It may be the last thing on your mind when you’re still deciding where to put the sofa and which cupboard to store the teabags in, but it certainly has an important place on your list of things to do.
Caitlin Connolly, Solicitor, Private Client Services
Philippa Abernethy, Solicitor, Family Law
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