The single most important piece of advice we can give you is to make a will. Even if you are married or in a civil partnership not all of your worldly goods will end up with the right person/people if you haven't got a valid will. Should you die without a will you will be deemed to have died 'intestate' and your estate (your assets) will be distributed in accordance with the laws of intestacy.

For anyone who is married with children, the spouse is entitled to the first £250,000 only plus a life interest (income) from the residue and the personal possessions. If there are no children, but there is a surviving parent, sibling or nephew or niece, a spouse or civil partner will receive the deceased's personal possessions, the first £450,000 of the Estate and half the remainder.

The problem is far greater if anyone with an unmarried partner (including same sex couples) dies because the laws of intestacy simply doesn't recognise unmarried partners as having any legal status. There is no such thing as a 'common law husband or wife'. This means that if you die intestate your partner is bypassed completely and your estate is given to children if there are any, or parents and siblings. Even your least favourite uncle and aunt could end up with your hard earned cash at the expense of your partner.

Proper legal advice is vital especially if your personal circumstances are complicated in any way. You might think you have a valid will in place but marriage or divorce will invalidate any wills in existence and you must make a new will (but not in Scotland).

You will need to appoint executors to distribute your assets in the event of your death. This can be a professional person such as your solicitor, or, more usually, close friends or relations - people that know you well and are broadly aware of your wishes.

Since 9 October 2007 it has been possible for the remaining nil rate band of a deceased spouse to be inherited by the surviving spouse, regardless of when the first spouse died. This means that up to £650,000 can be inherited free of any tax on the death of the second spouse if this is after 9 October 2007. If the first one to have died used any of their nil rate band this is taken into account. People that have been married more than once can inherit the nil rate band of more than one deceased spouse, but the total inherited can never exceed 100% of the nil rate band available.

Isis Financial Planners Ltd doesn't offer a will writing service - we prefer to leave that to the professionals, solicitors. The following three companies will be able to help:

Bradin Trubshaw & Kirwan (A GloverPriest Company) (Midlands)
Contact Lee Trubshaw: Tel: 01543 421840, email:

The Oakley Shee Partnership (London)
Contact Amanda Woolven: Tel: 020 7089 7302, email:

Don't be part of the statistic that one in three adults die intestate.

A similarly important document to have completed is a Power of Attorney - read our Power of Attorney page for more information.

For all enquiries: tel: 0345 1300 778, email:
post: PO Box 327, Carterton, OX18 1XZ, United Kingdom
Isis Financial Planners Limited is authorised and regulated by the Financial Conduct Authority, reference number 207297

Registered at Paje House, 164West Wycombe Rd, High Wycombe, Bucks, HP12 3AE
Registered in England & Wales No. 4284325

Isis Financial Planners Limited - Chartered Financial Planners - providing financial advice and wealth management advice to Oxford, Oxfordshire, London, The Cotswolds, Brighton & Hove, Sussex from locations in Oxford and Brighton & Hove.