If you die without making a Will you die Intestate - The State then effectively makes one for you according the rules that evolved through the legal system.
Apart from the fact your family will have no or little control over the legal costs, which may easily reach £5,000 for the average property-owning family, if you die intestate your Estate, in England and Wales, will be distributed as follows:
1. With no children, parents, brothers, sisters, nephews or nieces - the spouse inherits everything.
2. If there are children, the spouse takes the personal chattels (car, furniture, clothing etc.), £125,000 and INCOME ONLY from HALF of the residue (the balance) the children are entitled to half the residue when they are 18 (or earlierif they marry ) PLUS the other half of the residue on the death of the surviving parent.
3. If there are no children but there are parents, brothers, sisters, nephews or nieces, then the spouse takes the personal chattels plus £200,000 plus half the residue.
The other half of the residue is given in order to either: a) parent(s) or if they are dead then to b) brothers and sisters or if they are dead then to c)nephews and nieces
4. If there is no surviving spouse then everything is taken by: a) children, if none then by b) parents, if none then by c) brother, sisters or nephews and nieces, if none then by d) grandparents, if none then by e) uncles, aunts or cousins, if none then by f) The Crown
Can you see any problems with the above arrangements?
Do you know anyone who would be pleased to have their property disposed of according to one of the above formulae?
There are so many well documented cases of extreme hardship and difficulty resulting from people dying intestate.