Dying without a will
If you die without a Will, that is you are intestate, then the law decides who inherits what. This is a quick guide to what would happen and should not replace seeking the advice of a qualified Will writer. If you would like to talk to a professional Will writer, Please call Matt, Head of Wills & Estates Planning
If you have a lawful spouse
If your estate is worth less than £125,000 then your spouse gets everything.
If your estate is worth more than £125,000 and you had no other surviving relative (for example children, grandchildren or parents), then your spouse will still get everything.
If you have a lawful spouse, plus children
If your estate is worth less than £125,000 then your spouse gets everything. If your estate is worth more than £125,000 then your spouse would get £125,000 and all personal belongings with the right to take income from half the remainder, but not the capital itself, in half of anything over this sum.
Your children would get half the sum over £125,000 immediately (If children are minors, held in trust for their benefit) and be entitled to the other half on the death of your spouse. Should any of your children die before you then their children would be entitled to take their parent's share.
If you have a lawful spouse, no children, but other relatives
If your estate is worth less than £200,000 then your spouse gets everything. If your estate is worth more than £200,000 then your spouse would get £200,000 together with all personal belongings. The remaining estate goes to the other relatives in this order of priority: parents; brothers/sisters; half brothers/sisters; grandparents; aunts and uncles; spouses of aunts and uncles.
If you are not lawfully married, but have had children
Your estate will be shared between the children. Should they die before you then their children would take their share.
If you are not lawfully married, have no children, but have parents or have brothers/sisters/grandparents/aunts/uncles
Your estate will be shared equally amongst them in this order of priority - parents; brothers and sisters; half brothers and sisters; grandparents; aunts and uncles; spouses of aunts and uncles.
If any of these died before you but have living children then the children will take their parent's share.
If you are not lawfully married, and have no other relatives
Your estate WILL go the Crown! - How much do you like the Chancellor?, even if you voted the current government into power, you may prefer it if your estate went to other more beneficial causes, for example Charities, Research Organisations or Self-funded Societies?
If you are married
Don't assume "my other half will get everything". Brothers and sisters or parents may have a claim. Often you children have a right to part of your estate. If you are living as a couple but not officially married, you may be treated as a single person and a surviving partner may get nothing at all. One thing you can be certain of - there will be argument and dispute at a time when the family should be coping with the loss of a loved one.
If you are a parent
You should consider who would look after your children in the event of your death. This is particularly important in the case of one parent families or unmarried parents living together. A valid Will nominating guardians is invaluable in such cases. If no one knows what you would have wanted, the Court will decide on the future of your children, and it may not be what your or your children would have wished.
Appointed a guardian to care for your children
On average 50 children every day lose a parent! This bereavement is often accompanied by other losses, brought about by the change in circumstances. A child may find that he or she is faced with moving house or changing school, with the resultant loss of friends and familiar surroundings. Whilst it is not possible to protect children entirely from these losses, it is possible to take steps to ensure that the devastation caused by the death of a parent is not compounded by legal complications and uncertainty. Although it can be upsetting to consider what would happen to your child after your death, to make plans for his or her future security is an act of caring parenthood.
What happens to children on the death of a parent?
The answer to this depends on your particular circumstances and the plans that you have put in place. If there is no surviving parent with 'parental responsibility', and no appointment of a guardian has been made, then the child becomes the responsibility of the Court. Until such time as the Court appoints a guardian, the child may be taken into care. In contrast, if a guardian has been appointed, then responsibility for the child's care passes on the second parent's death to that guardian. The guardian is likely to be a person known to the child or perhaps someone such as a step-parent who has been living with the child.
Appointing a guardian
Perhaps the most important step you can take in making plans for your child is to appoint a guardian. A guardian is a person who will effectively 'step into the shoes' of a deceased parent and assume responsibility for the child.
Appointing a guardian, rather than leaving the decision to a court, has several important advantages:
- you can choose the person whom you would wish to care for your child, rather than leaving the decision to a judge
- if you feel that it is appropriate, you can discuss your choice with your child so that he or she has the security of knowing who will take care of them in the event of your death
- you can discuss your wishes for your child's upbringing with your chosen guardian and leave him or her a detailed letter of your wishes
- you can discuss your choice with your family and pre-empt any dispute about who should care for your child after your death.
How to appoint a guardian
The Children Act 1989 introduced a simple method for appointing guardians. It is sufficient that an appointment be made in writing, dated, signed by the person appointing the guardian and clearly showing the intention to appoint a guardian.
A more advisable method of appointing a guardian is to include the appointment in a Will. Making the appointment in a Will has the added benefit that related financial arrangements can be included in the same document. Properly attestated, there can be no avoidance of doubt as to its origin and therefore its intent.
If you are retired
Maybe you made a Will a long time ago. It probably needs updating to include additional grandchildren or deletion of persons you no longer feel you wish to leave anything to.
Don't delay, protect your assets.
Call NOW on: 07967 595454 or contact us today to arrange a Call Back.
Speak to Mat Lee (Head of Wills & Estates)
North Mortgages
