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Intestacy

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Intestacy will occur when a person has not left a valid will, or if their will does not dispose of all of their estate (for example if all of the residuary beneficiaries had predeceased). Any assets that would not pass into the estate will not pass via intestacy. See our previous newsletter for more information on this. The exact distribution under the intestacy rules is set out in S46 Administration of Estates Act 1925. The distribution will vary depending on the value of the estate and what members of family survive. Beneficiaries will inherit the estate after any debts, funeral expenses, taxes and other liabilities have been paid. Spouse is alive – Intestate leaves no issue If the intestate’s spouse survives by 28 days, and there are no surviving issue of the intestate, the surviving spouse will receive the entire estate. Spouse is alive – Intestate leaves issue If the…

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Introduction to Guardianship

By | Guardianship, Inheritance, Intestacy, Legal, Uncategorized, Wills | No Comments

Appointment of Testamentary Guardians The appointment of testamentary guardians is rarely considered by parent, but it is highly desirable that they should consider who should look after their children if both were to lose their lives while their children are under eighteen. The appointment of a testamentary guardian can only be made by a person with parental responsibility. What is Parental Responsibility? The legal definition of Parental Responsibility is the rights, duties, powers, responsibilities and authority which by law a parent has in relation to their child and their property. This includes: Providing them with a home maintaining them Choices about their medical treatment How and where they are educated Deciding their name It does not include a duty to maintain the child financially, all parents have this duty regardless of whether they have parental responsibility. More than one person can have parental responsibility for the same child at the…

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Intestacy

By | Inheritance, Intestacy, Legal, Wills | No Comments

Intestacy can be a complicated issue. Difficult to wrap your head around the ins and outs, if you haven’t worked much with it before. Below we’ve outlined the the rules in a simple flowchart to give you an idea on who will benefit from your estate if you a) have no Will or b) have no further levels of residue outlined in your Will.

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