What is intestacy?

If there is no will the estate may not be distributed as you would expect as there are strict rules that apply to determine who will inherit.

What are the rules?

When someone dies without a valid will there are strict inheritance laws, often referred to as the Rules of Intestacy, which apply in England and Wales.

The Rules of Intestacy can lead to issues as they make no provision for unmarried partners and step children so if they want to claim it can put them in a difficult position in having to make a claim to the Court for adequate financial provision.

Under the Rules of Intestacy, the estate will be divided as follows:

• If the person who died was married or in a civil partnership and there are no children, all of their estate will go to their spouse or civil partner.
• If the person who died was married or in a civil relationship and has children, the first £270,000 of their estate will go to their spouse or civil partner, along with any of their personal possessions. Anything over £270,000 will then be divided, with the spouse or civil partner receiving 50% and the children sharing the other 50% between them.
• If the person who died wasn't married or in a civil partnership, but does have children, the whole estate will go to them. If there are no children, then the estate could go to the parents, siblings or other relatives.
• It there is no spouse or children or parents then brothers and sisters or their issue can inherit

It is important to note that jointly held assets do not pass under the intestacy provisions

The only way to ensure that the people that you want to inherit receive your estate is to make a will.

For more information or to discuss any intestacy concerns, speak to us today.