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What Happens If You Do Not Make A Will? - January 2010

Sara Frost

If you do not make a Will the law determines who will inherit your assets, and after the 1st February 2009 the amount that a surviving spouse or civil partner would inherit has increased.

In addition to most types of assets that were in the joint names of yourself and your spouse, and your personal belongings, the amount that they would inherit is as follows:

If you leave a spouse and children, your spouse inherits £250,000 (previously £125,000). Of the remaining funds, your children receive half outright. Your spouse receives the income arising from the other half, and the capital passes to your children after his/her death.
If you leave a spouse but no children, your spouse inherits £450,000 (previously £200,000), and half of what is left. Your parents would inherit the rest if they live longer than you, or if not your brothers or sisters would inherit.
If you have children but no spouse, the children would inherit everything.
If you have no spouse, everything passes to the next available group of relatives (such as parents; brothers and sisters or cousins).
If you have no relatives at all, everything goes to the State.
Please note that a civil partner would be entitled to the same benefits as a spouse.

This may not be what you would wish to happen, and there may well be other people or charities that you would wish to remember. You may also wish to specify who should deal with the administration of your estate.

Ensure that your wishes are carried out by making an up to date Will.

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