What will happen if I die without making a Will?
You work so hard to build a home, the things inside it and everything else you own. If you want to make sure that, when you die, you leave it all to those you love, you need to make a will. The majority of people think that if they don't make a Will everything will automatically pass to their wife. This unfortunately is not always the case. Below you will see how your assets will be shared out if you die without a Will. |
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- Are you legally married and have assets worth £125,000 or less?
Your husband or wife takes all your assets.
Your husband or wife takes all your assets.
- Are you legally married, with children, and have assets worth more than £125,000?
Your husband or wife takes the first £125,000 plus your personal chattels( car, furniture,clothing,jewellery etc) and a life interest ( the income only) in half of the rest of the assets. The remaining half goes to the children in equal shares on them reaching age 18 or their earlier marriage. The children also inherit the other half when their surviving parent dies.
- Are you legally married, have no children, have assets worth more than £125,000, but have parents,brothers, sisters, nephews or nieces still living?
Your husband or wife takes £200,000 plus your personal chattels and half the rest of the assets. The remaining half goes to your surviving parents. If both your parents have died, it goes to your brothers and sisters. If your brothers and sisters have died, it goes to your nephews and nieces.
- Are you legally married, have no children, have assets worth more than £125,000, and have no living parents, brothers and sisters, nephews or nieces?
This is when your husband or wife takes all the assets.
- Are you not legally married, but have children?
Your assets are shared equally between your children. If your children have died, your assets are shared equally between your grandchildren.
- Are you not legally married, have no children, but have parents still living?
Your assets are shared equally between your parents.
- Are you not legally married, have no children, have no parents still living, but have brothers or sisters, nephews or nieces still living?
Your assets are shared equally between your brothers and sisters. If your brothers and sisters have died, your assets are shared equally between your nephews and nieces.
- Are you not legally married, have no children, have no parents still living, have no brothers or sisters, nephews or nieces still living, but have grandparents still living?
Your assets are shared equally between your living grandparents.
- Are you not legally married, and only have uncles and aunts or cousins still living?
Your assets are shared equally between your uncles and aunts. If they have died, your assets are shared equally between your cousins.
- Are you not legally married, and have no relatives whatsoever still alive?
All your assets pass to the crown. They will not pass to your partner unless you have a will.
The above information applies to England and Wales only. The information is based upon our interpretation of current legislation and Inland Revenue practice.
To find out more about your own situation, and to organise or review your Will, you must speak to a Solicitor for advice.
