Money in the event you both die at the same time?

B0bbyEwing

Just a curiosity / what if question really.

OH & I don't have any wills in place. No kids either. Basis of this was, Googling seemed to say that if I die then it all goes to OH & vice versa but with us very soon going in one of those big birds in the sky it made me wonder - what if it falls out of the sky & we die at the same time?

Statistically speaking yes I appreciate that doesn't happen so often, but let's change it a little & we're driving on country lanes and some idiot who "knows this road like the back of my hand (you've heard it before!)" comes flying around a corner at 90 straight in to us & again we die at the same time.

Point being it doesn't stop me wondering - what if.

So what happens to everything in that event? Personal possessions and money - money in current accounts, savings accounts, investments such as S&S ISAs, SIPPs, workplace pensions (OH has your standard workplace pension like mine but also currently is part of the NHS pension scheme).

Where does all that go?

I have 1 parent, 2 siblings & of that one sibling has 2 kids.
OH has 2 parents, 2 siblings & of that one sibling has 3 kids. 
All kids under 18. All siblings older than 18.

Again - we have NO will in place, and also no time now to sort one with the time that's left between now & departure. 

user1977

If you make a Will you'll usually have a clause covering that situation (generally if you die within X days of each other, to cover eg one of you dying instantly and the other dying later of injuries). If intestacy applies then I think it's assumed the older dies first, or if death is officially at different times then by the order you died in.

bobster2

In general where simultaneous deaths happen - it is assumed for estate administration purposes that the older person died first. As explained here...

https://www.thegazette.co.uk/all-notices/content/103859

But you don't say if you're actually married? 

Emmia

Without a will, your estate would be subject to the rules of intestacy - gov.uk has a handy tool to help you work out who will inherit (ultimately without a will and a lack of relatives, it goes to the government)

https://www.gov.uk/inherits-someone-dies-without-will

Someone will also need to apply for letters of administration to be able to wind up your affairs.

https://www.gov.uk/applying-for-probate/if-theres-not-a-will

bobster2

Emmia said:

Without a will, your estate would be subject to the rules of intestacy - gov.uk has a handy tool to help you work out who will inherit (ultimately without a will and a lack of relatives, it goes to the government)

https://www.gov.uk/inherits-someone-dies-without-will

Someone will also need to apply for letters of administration to be able to wind up your affairs.

https://www.gov.uk/applying-for-probate/if-theres-not-a-will

Yes but in this simultaneous death scenario the rules of intestacy need to be applied to the older member of the married couple's estate first - and then the younger one.

So with no children, you could end up with a scenario where the older spouse's relatives inherit nothing. It all goes to younger spouse's estate - then on to their relatives.

Emmia

bobster2 said:

Emmia said:

Without a will, your estate would be subject to the rules of intestacy - gov.uk has a handy tool to help you work out who will inherit (ultimately without a will and a lack of relatives, it goes to the government)

https://www.gov.uk/inherits-someone-dies-without-will

Someone will also need to apply for letters of administration to be able to wind up your affairs.

https://www.gov.uk/applying-for-probate/if-theres-not-a-will

Yes but in this simultaneous death scenario the rules of intestacy need to be applied to the older member of the married couple's estate first - and then the younger one.

So with no children, you could end up with a scenario where the older spouse's relatives inherit nothing. It all goes to younger spouse's estate - then on to their relatives.

Indeed, but awareness of what happens without a will is important with that caveat.

You're also assuming they're married / CP. If not then they're separate and this process would be followed for each of them individually and they don't inherit off each other.

bobster2

Emmia said:

bobster2 said:

Emmia said:

Without a will, your estate would be subject to the rules of intestacy - gov.uk has a handy tool to help you work out who will inherit (ultimately without a will and a lack of relatives, it goes to the government)

https://www.gov.uk/inherits-someone-dies-without-will

Someone will also need to apply for letters of administration to be able to wind up your affairs.

https://www.gov.uk/applying-for-probate/if-theres-not-a-will

Yes but in this simultaneous death scenario the rules of intestacy need to be applied to the older member of the married couple's estate first - and then the younger one.

So with no children, you could end up with a scenario where the older spouse's relatives inherit nothing. It all goes to younger spouse's estate - then on to their relatives.

Indeed, but awareness of what happens without a will is important with that caveat.

You're also assuming they're married / CP. If not then they're separate and this process would be followed for each of them individually and they don't inherit off each other.

Yes - that is critical - I asked OP to clarify in previous post whether they are married.

bobster2

Definitely married - OP asked the same question last week...

https://forums.moneysavingexpert.com/discussion/6622073/how-to-help-someone-sort-finances-in-the-event-of-death

Emmia

bobster2 said:in 

Definitely married - OP asked the same question last week...

https://forums.moneysavingexpert.com/discussion/6622073/how-to-help-someone-sort-finances-in-the-event-of-death

In which case, everything to the younger one, and then follow the gov.uk step through for that person.

https://www.gov.uk/inherits-someone-dies-without-will

Keep_pedalling

The OP said a week ago in their previous thread on this subject that they did not have time to sort a will, yet they have spent time on here starting several new threads so clearly they have had time to do so but have not prioritised it. 

bobster2

Emmia said:

bobster2 said:in 

Definitely married - OP asked the same question last week...

https://forums.moneysavingexpert.com/discussion/6622073/how-to-help-someone-sort-finances-in-the-event-of-death

In which case, everything to the younger one, and then follow the gov.uk step through for that person.

https://www.gov.uk/inherits-someone-dies-without-will

Hang on - I think we both might be wrong!

Look at the bottom here "exemptions from the simultaneous death rule"...

https://www.thegazette.co.uk/all-notices/content/103859

Searle vs Searle was about jointed owned property. 

Intestacy is different - "for the intestacy rules, a surviving spouse or civil partner must survive by 28 days to inherit"

So it seems like for simultaneous death of spouses - both sets of relatives could inherit. But any jointly owned property would be part of the estate of the younger spouse.