On 09/07/15 09:51, Bob Eager wrote:
On Thu, 09 Jul 2015 08:57:02 +0100, stuart noble wrote:

On 09/07/2015 00:25, DJC wrote:
On 08/07/15 18:31, stuart noble wrote:

It's straightforward if nobody challenges it*, and it's an essential
thing to have if the intestacy rules don't cover your requirements. If
you have a wife and kids, then why would you need a will? (unless
you're Bill Gates or Warren Buffet)


My father never made a will. When he died thirty years ago I expect he
assume that it would all go to my mother. But that's not what the
intestacy rules laid down. It took a deed of arrangement to prevent
things getting even more complicated when my mother dies a few years
later. Needless to say having sorted out the problems on my father's
death getting my mother to write a will was something I insisted upon.
If you have a wife and kids you most certainly need a will.


How did the money not go to your father's wife then?

Because the rules state (current values) that the first £250,000 goes to
the widow, and she also gets half of the remainder. The rest is divided
equally among children. Can be a problem if the estate includes the house
that the widow is living in, and the children want their share now.

Precisely. 'Wanting share now' not the problem. The problem is the tax
and other implications (or was at that time) of a life interest in 'half
the remainder' when practically the whole estate was the family home.

I note the rules were changed in Oct 2014, but it is still probably not
as simple as most people assume.
http://www.hmrc.gov.uk/manuals/ihtmanual/ihtm12111.htm