What happens when parents die?

lincroft1710

berbastrike wrote: »

not really, just like what percentage of parents will give their house to their children

An impossible question to answer. Some parents will, some will leave their house to charity, some may even leave it to a secret lover or to another relative

BitterAndTwisted

berbastrike wrote: »

not really, just like what percentage of parents will give their house to their children

I suspect that English is not your first language and because of that your questions aren't very clear about what exactly it is that you want to know.

googler

OP; for example

25% of parents leave their house to their children in their will
25% of parents sell their house before they die and leave money to their children
50% of parents have their houses seized by the state to pay for medical care

Are these the kind of percentages you're looking for?

System

Percentage of parents that give house to children in will?

Percentage of parents that sell house to someone else before they die and children don't get house?

[Deleted User]

Hi,

oh jings, 50/50.

googler

berbastrike wrote: »

Percentage of parents that give house to children in will?

Percentage of parents that sell house to someone else before they die and children don't get house?

Any figures that anyone would give would have to be guesswork, I'd suggest, Can't see where this would be recorded for anyone to compile the numbers....

tyllwyd

Are you asking whether there are rules governing how an inheritance should be split between any children and other relatives? If that's your question, then no, there aren't any forced heirship rules in the UK.
http://en.wikipedia.org/wiki/Forced_heirship

G_M

berbastrike wrote: »

Percentage of parents that give house to children in will?

Percentage of parents that sell house to someone else before they die and children don't get house?

31% give their house to their children in their will
43% have no house.
12% have no will, but the house goes to the children anyway
7% have no will, and the house goes to someone else.
3% sell their house in the 2 weeks before their death, and give the money to their children.
1% sell their house in the 2 weeks before their death, and give the money to someone else.
3% sell their house in the 2 months before their death, and give the money to someone else.
1% sell their house in the 2 months before their death, and give the money to someone else.

atush

Even if the parents sell the house, if they have no will the children would inherit the money/assets after debts are paid as it would go to intestacy rules.

If there is no will, and assets are held jointly, the surviving spouse will inherit all even if there are children. If they are not married, and house is held jointly, the children might inherit half the property/assets between them and the partner of the deceased would get their half of jointly held assets. Sole Assets of a non married deceased would go to their nearest blood relatives starting with children but branching out to parents, siblings, cousins etc if there are no children.

It all depends on will, marriage status of the deceased.

ognum

atush wrote: »

Even if the parents sell the house, if they have no will the children would inherit the money/assets after debts are paid as it would go to intestacy rules.

If there is no will, and assets are held jointly, the surviving spouse will inherit all even if there are children. If they are not married, and house is held jointly, the children might inherit half the property/assets between them and the partner of the deceased would get their half of jointly held assets. Sole Assets of a non married deceased would go to their nearest blood relatives starting with children but branching out to parents, siblings, cousins etc if there are no children.

It all depends on will, marriage status of the deceased.

I dont think this is true, I have checked the direct gov website and it states

HMRC Inheritance Tax: Customer Guide

• The surviving spouse or civil partner receives the chattels, a statutory legacy of £250,000 (£125,000 if the death was before 1 February 2009) and a life interest in half of the residue.
• The children receive the other half of the residue in equal shares. If any of the deceased’s children have died leaving issue, then the issue will receive their parents' share per stirpes.

This is in England and Wales