What Swindon Homeowners Need to Know About Wills
14th March 2025
Buying a home is a major milestone, and the perfect time to think about making or updating your will. It is a step that ensures your biggest asset is protected and passed on according to your wishes.
Why Making a Will Matters
Key Things to Consider
Joint Tenants vs. Tenants in Common – What is the Difference?
If you are buying a property with someone else, it is important to understand the legal implications of joint ownership.
Your solicitor or conveyancer will guide you on which option best suits your situation and ensure it is correctly registered with the Land Registry.
How to Make a Will
To make or amend a will, seek advice from a solicitor or a professional will-writing service. Some charities offer free will-writing services in return for a donation. A legal expert will help ensure your will is valid and structured to protect your assets and beneficiaries.
Do You Have to Make a Will When Buying a Home?
No, it is not a legal requirement, but it is a smart move. Having a will in place can also help with inheritance tax planning, so professional advice is recommended.
What Happens if You Don’t Make a Will?
If you pass away without a will, your estate is distributed according to intestacy law. This could mean your assets do not go to the people you intended, and the process of settling your estate could take years.
In some cases, if no relatives can be found, your estate could even go to the Crown. Currently, there are 5,883 estates on the official Unclaimed Estates List. (Source: Government Legal Department figures.)
Final Thoughts
Buying a home is a great time to put your financial affairs in order. If you have not made a will yet, now is the time to do it. If you know someone who might find this information helpful, feel free to share it!
