My husband and I jointly own a house worth about £150,000, jointly own a static caravan, have a joint bank account and some premium bonds each. Do we need to make a will?
As things stand, the survivor would probably inherit everything under the intestacy rules when one of you dies. But what would happen to your property if you were both to die together in a car accident? Under the same rules it may go to relatives you have never even met. It’s the job of a solicitor to think the unthinkable, and you would probably benefit from some advice along these lines. Considering that what people own represents a lifetime’s effort, it’s hard to understand their reluctance to invest a comparatively small sum in drawing up a will.