Legal News | 25.06.26

A Will is for life, not just for homeowners

According to recent research, less than 25% of those who rent their home have made a Will. This compares with 45% of adults with a mortgage, which is slightly higher than the overall proportion of UK adults who have made a Will (which stands at 37%).

It is a common misconception that only those with substantial wealth should make a Will. Every adult should consider doing so, whether they currently hold significant property assets or not.

The consequences of not having a Will can be more serious than many realise. When someone dies without a Will, the rules of intestacy in England and Wales dictate how their assets pass on death. Under these rules, an unmarried partner does not automatically inherit from their partner’s estate regardless of the length or stability of the relationship. This may present difficulties for renters, in particular, who are statistically more likely to live with an unmarried partner. Change may be afoot following the publication of a recent consultation which (in part) looks at the law for cohabitants on intestacy. However, under existing law, a cohabitant has no automatic entitlement to inherit, and this may leave a bereaved partner without financial security.

A Will is not simply a document for distributing property; it is a practical tool which can give you peace of mind that your loved ones have clarity about your wishes and security after you die. For those with minor children, a Will can also provide an opportunity to appoint guardians.

Having a Will is relevant to everyone, regardless of homeownership status and perceived wealth.  If you would like to make a Will or review your existing Will, please contact our Private Client Team at wealth@wansbroughs.com.