Island Life Magazine Ltd February/March 2014 | Page 112
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By Ian
Bradshaw
Intestacy – make a Will!
H
enry dies without a will on the
January 28, 2014. His family
history is as follows:
• Henry divorced his first wife Catherine
after the birth of their daughter Mary.
• Henry’s second wife Anne predeceased
him after the birth of their daughter
Elizabeth.
• Henry’s third wife Jane predeceased
him after the birth of their son Edward.
• Henry’s fourth wife Anne divorced
him without having had children.
• Henry’s fifth wife Catherine
predeceased him without having had
children.
• Henry’s sixth wife Catherine survived
him without having had children.
Under the present law of Intestacy
which governs the administration of
Henry’s estate the division of his assets
where his whole estate is worth £500,000
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clear of all debts is as follows;
a) Sixth wife Catherine receives all
Henry’s possessions.
b) Sixth wife Catherine receives the first
£250,000.
c) Sixth wife Catherine receives a life
interest in half his remaining estate being
the right to income for life on £125,000.
(Henry’s remaining estate is £250,000
total).
Provided the children (Mary, Elizabeth
and Edward) attain the age of 18 they will
inherit the following:
d) Half of the remaining estate
(£125,000) equally between them.
e) The other half of the remaining estate
(£125,000) left to Catherine on her death
as she was only entitled to the income.
Unfortunately for Henry his son Edward
died before he was 18 unmarried without
children.
f ) On Edwards’s death his share would
be split equally between Mary and
Elizabeth when they become 18.
It should be noted that if Henry only
had assets worth £250,000 or less that
would all pass to sixth wife Catherine.
The children would not inherit. These
rules apply to a death leaving a spouse
and a child or children surviving. If there
is no spouse then the surviving children
stand to inherit. Other rules apply to
other situations.
Henry actually wished to leave some
of his estate to his favourite organisation
The Church of England but alas as
he made no will the Law of Intestacy
dictated the final result. Ultimately to
ensure your final wishes take effect the
solution is to make a Will.