My dad has been telling me I should do a will, as at the moment my girlfriend that I have been living with for fifteen would not get anything. I think he has come to that conclusion after I had a couple of serious accidents in the last two years on my bike. Ironic that I ride a motorbike for so many years and hundreds of thousands of miles without getting any broken bones, I take up cycling again and get a neck fracture and a torn aorta within a couple of years. This thread has urged me to sort a will out. I will get the ball rolling this afternoon.
I was talking to my folks about my will today. Your dad is right, your girlfriend will get nothing unless stipulated in a will. If you die intestate, the money will go to your legal next of kin, parents
The other issue with not being married, is your girlfriend will not inherit the estate tax free. The IHT threshold will kick in at 325k and 40% payable at everything beyond that point
Get that will made...and you may want to consider marriage!
