Few people realise what dying without having a valid Will means to those they leave behind. In all such cases the state decides who will inherit. For married couples with children, except for their jointly owned assets -
- the survivor inherits the first £250,000 together with personal effects;
- ½ the remaining assets go to the survivor with a life interest and then to the children on attaining 18 years of age; and
- the remaining ½ to the children on attaining 18 years of age.
Those married with no children and those in a Civil Partnership, except for their jointly owned assets -
- the survivor inherits the first £450,000 together with personal effects plus ½ of the remaining assets;
- the remaining ½ to the deceased’s parents or, if none, then to his/her siblings.
The situation is more draconian for co-habiting couples, especially if the partner who dies solely owns any property. In these circumstances the estate goes to -
- any children in equal shares at 18 years of age, if none;
- the deceased’s parents, if none;
- his/her siblings, if none;
- his/her grandparents, if none;
- his/her aunts/uncles, if none;
- the Crown.
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