Rules of Intestacy
Posted on 4th April 2018 at 16:16
Do you know who inherits your estate (the legal term for your property) or belongings if you have not done a will? Let us explain the Rules of Intestacy in the UK.
MARRIED OR IN A CIVIL PARTNERSHIP WITH AN ESTATE WORTH NO MORE THAN £250,000?
So if you are married or in a Civil Partnership and die without preparing a Will and have an Estate (property) worth no more than £250,000 that will automatically go to your Spouse or Civil Partner. If you are not married or in a Civil Partnership it will go to your children and be equally split between them, or if you have only 1 child of course they will inherit your whole estate.
MARRIED OR IN A CIVIL PARTNERSHIP WITH AN ESTATE WORTH OVER £250,000?
If your estate is worth more than £250,000 and you are married/in a civil partnership and have children the estate is then shared between your spouse/civil partner and your children. Your spouse/civil partner gets all personal chattels (these are tangible movable property that is not the property itself such as stables, horses, jewellery, clothes) plus they get £250,000 and a life interest in half the remainder. Your children will get the rest.
If the estate is worth more than £250,000 you are married/in a civil partnership, have no children but have parents at the time of death, your spouse or civil partner will then gets personal chattels, the first £450,000, plus half the balance, the rest is shared between parents.
If there are no parents at the time of death but you have brothers and sisters, your spouse/civil partner gets personal chattels, the first £450,000, plus half the balance, the rest is shared between your brothers and sisters.
If when you die there are no parents and no brothers and sisters and no children, your spouse/civil partner gets everything! Lucky them!
For those that are single and are not married/in a civil partnership the estate is firstly shared equally between children. If you have no children, but have parents the estate is then shared equally between them. If you have no children and no parents but have brothers and sisters your estate is shared equally between them. If you have no parents and no siblings but have nieces and nephews the estate would be shared between them. If you have no nieces and nephews and none of the previous relatives but have grandparents the estate goes to them, if no grandparents do you have Aunts and Uncles? The estate would next go to them, if no Aunts and Uncles it would get shared equally between cousins. If no cousins everything goes to the Government!
The long and short of it is if you don’t want to get caught up in the Instestacy Rules and don't want your estate going to relatives you don't see or get on with when you die then you better make a Will. That way you can be assured your estate and personal chattels will go to who you want should the worse happen to you.
Tagged as: Rules of Intestacy
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