Mark McLaughlin looks at the importance of making a will, and some inheritance tax and other implications of intestacy.
No-one likes to think about their death, so it is perhaps understandable that many people put off drafting their will, and some die without having made a will.
Death and intestacy
If an individual dies without making a will, the estate is subject to distribution in accordance with the laws of intestacy, in the Administration of Estates Act 1925 (NB this article considers the law in England and Wales; different provisions apply in Scotland and Northern Ireland).
This means that an individual’s estate might not be inherited by the ‘right’ beneficiaries.
Example: Married with children
A married couple, Bill and Carol, live in London. They have
