Will confusion

wombat42_2

As i understand it, unless the property owners are "tenants in common", any directions in the will about disposal of the property when one property owner dies are disregarded and ownership of the property is simply passed onto the surviving partner.

However what confuses me is that, as i understand it, if a property owner died intestate (without a will), only up to £125,000 worth of property etc is automatically passed onto the surviving spouse.

Surely the two situations must be consistent ?

mountainofdebt

If held as joint tenants then the property is automatically becomes the sole property of the surviving partner.....hence no need for the will to even mention what the deceased would have liked to happen to their share of the property because basically the deceased doesn't get a say in what happens to their 'share' of the property.

Only if they hold the property as tenants in common does the deceased get a say in what happens to their share or is applicable to the rules of intestacy.

bigbloke45

Establish what your objectives are regarding who will inherit your estate(s) and then make a will! Intestancy rules are not something you want your beneficiaries to fight with.

Good luck!