If an individual has not secured a Will in their lifetime, or if it has been revoked by destruction or marriage, or if it was invalid as it was not correctly executed, and they pass away, in the first instance Intestacy Rules apply. This means the law sets out who should deal with your estate and who should inherit your estate.
What do the intestacy rules cover?
The order of entitlement under the intestacy rules depends on:
- The value of the intestate’s estate.
- Which members of the intestate’s family survive the intestate.
What is the order of priority on intestacy?
- If the Deceased was married or in a civil partnership with no children, the spouse or civil partner will inherit everything. (if they survive 28 days from the Deceased’s passing)
- If the Deceased was married or in a civil partnership with children, the spouse or civil partner will inherit all personal possessions and the first £322,000 (for deaths after 26/07/2023) of the estate, and half of the remaining estate. The children will inherit the other half of the remaining estate.
- If the Deceased was single and had children, everything would pass equally to his children including illegitimate and adopted children but not step- children.
- If the Deceased was single with no children, their estate will pass to their surviving parents. If there are no parents, full siblings would be next in order of priority or their children if they have predeceased. Half siblings are only entitled if there are no full siblings.
- If the Deceased had no spouse, no children, no parents, no siblings, living grandparents would inherit.
- If the Deceased had none of the above, their estate would pass to whole blood aunts or uncles (or their issue if they have predeceased)
- Finally, if the Deceased had no living family members, their whole estate would pass to the Crown – this is known as Bona Vacantia.
Estates passing under the Intestacy Rules may mean your estate ends up in the hands of individuals who you may not have chosen to become your beneficiaries; therefore, it is important to ensure you have a valid Will in place.
For further information, email nb@cbglaw.co.uk and Nosheen will send you our FREE downloadable guide on all matters relating to effective estate planning and your protection.
