Cash Clinic: Making a will is vital if you want your real wishes listened to

Couples living together may think everything in the garden is rosy but disasters can happen so making a will is important

Q. My boyfriend and I have just moved into a flat together in Edinburgh and are now thinking of starting a family. I started worrying about what would happen to me if he died, as I would be very dependent on him if we had a baby as I intend to stop working. He has not made a will as he thinks we are young and do not have to worry about these matters. Do I have any rights to his assets if something were to happen? He is wealthy, but I am not sure exactly how wealthy.

SM, Edinburgh

A. As a general rule, you should both make wills and review then at least every three years. If you do not make a will then any property you leave (known as your estate) would not necessarily go to the people to whom you would want it to go. It is also important to recognise that wills are only one part of a succession planning exercise. Inheritance tax (IHT) may be charged at 40 per cent on the value of each of your estates over the nil rate band of 325,000. This is very different from the IHT position if you were married or civil partners.

The Family Law (Scotland) Act 2006 introduced significant changes in this area but they are not that well known.

Basically, you have no automatic right to your boyfriend's estate, but you could apply to the court for a capital sum or the transfer of property should your boyfriend die without having made a will. Same sex couples who have not entered into a civil partnership can also make a claim under the terms of this legislation.

You have to do this within six months of the death of your boyfriend. The court would take into account various factors including the length of time you lived together; the nature of your relationship; the nature and extent of any financial arrangements you had; the size and nature of your boyfriend's estate; any other benefit from his death; any other rights against or claims on the estate; and any other matters they consider appropriate.

The maximum award is the amount a spouse or civil partner would have been entitled to. You do not say whether either of you were married before or if you have children already, but this would also be important.

Under Scots law, your surviving spouse and children are entitled to claim what are known as "legal rights" and your surviving spouse can also claim "prior rights" in your estate, notwithstanding the provisions of your will.

It is essential that you seek specialist legal and financial advice on these matters.

• Glen Gilson is a partner and head of private client and financial services at law firm HBJ Gateley Wareing.

If you have a question you need answered, write to Jeff Salway, Personal Finance Editor, The Scotsman, 108 Holyrood Road, Edinburgh EH8 8AS or e-mail: [email protected]. The above is for general purposes only and is not tailored for individual use. It does not constitute legal, financial or investment advice on any particular matter and must not be treated as a substitute for specific advice. No action should be taken in reliance of the information given. The Scotsman Publications Ltd and HBJ Gateley Wareing accept no liability on the basis of this article.