Wills

What happens if you die without having made a Will?

If the deceased has a spouse, but no children: the spouse will only get the first £200,000 plus fifty percent of the remainder of the estate. The other fifty percent will go to the deceased's parents, or if they are dead, the deceased's brothers and sisters.

If the deceased has a spouse and children: the spouse will only get the first £125,000, half the remainder will go to the children and the other half will go in to a trust from which the spouse will receive an income for life and the capital will go to the children when the surviving spouse dies.

If there are children, but no spouse: the estate is divided equally among the children.

If there is no spouse or children: the estate goes to the deceased's parents, or if they are dead, to the deceased's brothers and sisters.

A spouse is considered as a person that the deceased was lawfully married to.

Most people think that when they die their surviving spouse inherits the whole estate. As you can see above, this isn't the case. If you are not happy with the above, you are advised to make a Will.

For more information, please call us on 01843 599773.

The services promoted here are not part of the Openwork offering and are offered in our own right. Openwork Limited accept no responsibility for this aspect of our business. This service is not regulated by the Financial Services Authority.

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