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What happens on death?

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Comments

  • TVAS
    TVAS Posts: 498 Forumite
    100 Posts
    Will it all just go into a pot of money and get split between siblings? (Ideally what I would like) Go to a solicitor and get a will done.
    You seem to be implying you want all of your money to go to siblings and nothing for partner and children. The will will be contested this is another reason to consult a solicitor.
    Your next of kin are your children not your siblings.
    Your "partner is your next of kin if you are married, however if she is a financial dependant she has a higher claim on your estate more than your siblings. 
     
  • stig
    stig Posts: 162 Forumite
    Part of the Furniture 100 Posts Name Dropper
    It seems to me that this is someone who doesn’t have a partner or children, and so they think their next of kin will be their siblings. Is that right?

    Without a will, their assets will pass to parents first and only then to siblings. With a will it will work exactly like any other will, assets and liabilities netted off then any surplus distributed to named beneficiaries. Child, sibling or dogs home, no difference.

    Stig 
  • IAMIAM
    IAMIAM Posts: 1,394 Forumite
    Fifth Anniversary 500 Posts Name Dropper
    stig said:
    It seems to me that this is someone who doesn’t have a partner or children, and so they think their next of kin will be their siblings. Is that right?

    Without a will, their assets will pass to parents first and only then to siblings. With a will it will work exactly like any other will, assets and liabilities netted off then any surplus distributed to named beneficiaries. Child, sibling or dogs home, no difference.

    Stig 
    Correct. 
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