If you don’t have a Will, your estate will be distributed in accordance with the intestacy rules, which set out in strict terms who in your family should benefit. This may mean that it doesn’t go to the people you want it to, or, potentially worse, it goes to people you don’t want it to.
Where you are farming in a partnership but don’t have a written agreement, this can also cause issues when deciding what should form part of the farming partnership and what should fall under the intestacy rules. This uncertainty usually causes family arguments which are often avoidable by having an up to date Will in place.
Typically, under the rules of intestacy, your immediate family will benefit from your estate. However, where an individual has a spouse and children, their whole estate does not necessarily pass to their spouse under the rules of intestacy. Even if your wishes are quite straightforward it’s good to take advice and put a Will in place. Ultimately it will save your family money and give them peace of mind, at a time when you won’t be around to help them make decisions or resolve any disputes.