What does it mean to die intestate
If the deceased left behind no will, then they died in intestate.
Intestacy is the estate or assets of an individual who dies without leaving behind a will. Dying without a will means that the government can end up with all of the deceased’s assets if they have no close relatives. However the government can still end up with the deceased’s assets even if they do have close relatives. That is why it is important to have a will created professionally.
When someone dies in intestate, the laws of intestacy will control who in the family will be beneficiaries of the deceased. Since assets of the estate was not covered or mentioned in a will, the government will have to decide who gets what.
The rules of intestacy state that:
- If you are married with children and leave behind no will then your spouse gets everything of yours up to £125,000, this includes your personal possessions.
– Anything that is left over will be split in half with your children who will get 50% of it when they reach the age of 18. The reminder will go into trust until your spouse dies, and then it goes back to the children.
- If you are married with no children but have relatives, the spouse again will receive everything up to £200,000 including your personal possessions.
– The remainder will be divided in half, where half of it goes to your spouse, the rest to your parents. If your parents are dead too, then this half will go to your bother or sisters or their children.
- If you are unmarried and share a home, it might have to be sold if it is not in your name. The profits and the rest of the estate will go to your next of kin.
The Administration of Estate Act 1925 governs the laws of intestate. These laws make no reference to stepchildren and or for cohabitees. If either of these unmentioned parties are to have any of your assets they will have to make claims in court to have their share of your assets. If you die without a will and without any living relatives, your assets, estate and money will go directly to the Treasury.
Many people think the rules of intestacy are unfair. Sometimes the assets of the deceased go too far off relatives rather than the people who should have it the most. That is why it is important to make sure you have a will written up so that way your loved ones will not have to suffer through both your death and the laws of intestacy.
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