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Dying Intestate

When a person dies without having made a will, they are said to have died “Intestate”. If this happens, the property of that person is distributed according to the rules of succession. The law on who inherits what can be quite complicated. Most of the allocation of the estate depends on whether a spouse is left behind. If this is so, the following rules apply:

* The spouse inherits everything if the estate is worth less than £125,000

* If the estate is worth more than £125,000, the spouse inherits the deceased's personal effects, £125,000, plus a life interest in half of the rest of the estate. (This is usually done by investing the other half and the spouse receives the income produced.)

The children equally share the rest of the estate until they reach the age of 18 or married before they are 18. There is provision made for the children of any child who dies before the intestate person to take their parent' share.

* If there are no children or grandchildren that do not reach the age of 18 or marry under the age of 18, but there are parents or siblings, then the spouse inherits all personal effects, £200,000 plus half of the rest of the estate.

The parents, and or siblings equally share the remainder of the estate equally.

 


Article by Tracey Aldous

Copyright © Tracey Aldous & Simon Hiscox. All Rights Reserved - Terms & Conditions.