My wife and I divorced ten years ago, but we changed our minds and still live together. We don’t own any property but we each have a small amount of money in separate accounts. What would happen to this money if one of us were to die? Neither of us have made wills.
If the money were in a joint account it would go to the survivor. As your money is kept in separate accounts it will go either to your children if you have any, or to next of kin such as parents or brothers and sisters. Having said that, since you have lived together for more than two years, you would each have a potential claim on the estate of the other. It would make things a lot easier if you made wills.