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Who gets the money?
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Single life policy for wife, neither of us have wills.0
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Nothing stopping me, about to sort it out was just curious what would happen in the meantime.0
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was just curious what would happen in the meantime.
What happens is that you are especially careful and give up dangerous sports for a while.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
https://www.gov.uk/inherits-someone-dies-without-willNothing stopping me, about to sort it out was just curious what would happen in the meantime.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
I will tread carefully0
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So does anyone know the score regarding money in children's accounts (normal savings accounts) myself as trustee what would happen if I died, would my wife get the money or my ex become automatic trustee to these accounts? Still no will in place.0
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gfm198 - I think everyone is offering a version of correct advice here.
The key is that without a will, your control over who gets what is severely limited. And most of us humble mortals may not interpret the often complex rules correctly or remember to do so for every part of our wealth.
The simple truth is that if you love someone and want to see them looked after as you wish - you both need to have a will in place to ensure your wishes are catered for legally.
A will can often be quite simple! It is true that a solicitor or professional will maker is going to charge you something - but it maybe not as much as you may think AND cost "nothing" compared to the costs of what you want to happen not happening. Or your children paying for expensive legal support to sort it out when you have gone.
Dying intestate is almost always a nightmare for those you leave behind - a nightmare they are really not in a fit state to sort out, especially not when they just lost you.
Save them all the grief and possible conflict if the worst should happen - get a will :-)I am just thinking out loud - nothing I say should be relied upon!
I do however reserve the right to be correct by accident.0
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