No Will exists

by **kumar9** on Wed Sep 28, 2011 1:21 am

Could someone please comment:

A couple own a home as tenants in common.If one partner of the couple dies ,would the dead partners share of the home all go to the surviving partner in the absence of a will ?
Thanks

by **section 44** on Wed Sep 28, 2011 11:42 am

does the dead partner have children (not necessarily minors)?

by **kumar9** on Wed Sep 28, 2011 7:52 pm

Yes,children and grand children.Only one son and his wife live with them.

by **maths** on Wed Sep 28, 2011 8:39 pm

No.

On the death of the first spouse to die the surviving spouse has the right to demand the Personal Representatives (similar to executors of a will) to appropriate the deceased's interest to the surviving spouse.

This may or may not require a payment from the surviving spouse depending upon the value of the house and the size of the deceased's estate.

All this is avoidable if each makes a will leaving their interest to the surviving spouse.

by **Lee Young** on Mon Oct 17, 2011 5:45 pm

Kumar9 - you use the word "partner" whereas Maths has used the word "spouse". If they were married then the rules are different copmpared to the situation if they are not - and in the case of a non married couple the surviving partner does not have any right to demand the appropriation of the deceased's share of the property, as this is the right of spouses/civil partners only.

by **kumar9** on Sun Nov 13, 2011 9:16 am

Sorry for the delayed response as I have been abroad.To clarify,the couple are married.
If the value of the house is say £ 1 million,would a payment involved?I thought transfers between a married couple were free of any taxes ?
Is a Will the only way to document the wishes of each of the couple?A Letter of Wishes witnessed by independent parties (say 2)would not be valid?

BTW,are online Wills Valid?

by **kumar9** on Sun Nov 13, 2011 9:48 am

Is it true First £250,000 plus personal belongings goes to your husband / wife?The Total estate if neither exceeds £ 250,000 individually.

by **maths** on Mon Nov 14, 2011 3:06 pm

If the value of the house is say £ 1 million,would a payment involved?I thought transfers between a married couple were free of any taxes ?

Transfers between spouses are exempt from IHT; this is a totlally different issue to the queries you raise re intestacy.

The surviving spouse is entitled to the deceased's personal chattels (eg books etc); a fixed sum of £250K; plus a life interest in 50% of the residue of the estate (ie what's left).

If she requires the deceased's interest in the house to be transferred to her (value £500K) then if her life interest is less than £500K she will need to pay the difference; if more then no balancing payment necessary.

Is a Will the only way to document the wishes of each of the couple?A Letter of Wishes witnessed by independent parties (say 2)would not be valid?

A "letter of wishes" does not normally conform to the legal requirements of a "will". It is usually just a letter in addition to a will designed to help the executors of the will to effect the distribution of the estate in line with the testator's wishes.

BTW,are online Wills Valid?

On-line wills are valid, again, if they satisfy the usual requirements. However, they can be fraught with problems depending upon who is drafting the will.

by **kumar9** on Mon Nov 14, 2011 4:28 pm

Thanks Maths.

Does this mean personal chattels do not include the interest in the house.Current value of each of the married couple is less than £ 250,000 (its not £ 500,000)

Thanks

Kumar

by **kumar9** on Mon Nov 14, 2011 4:31 pm

Thanks Maths.

Does this mean personal chattels do not include the interest in the house.Current value of each of the married couple,in the house,is less than £ 250,000 (its not £ 500,000)

Thanks

kumar9

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