Quizzes & Puzzles13 mins ago
Who are the beneficiaries?
My uncle has passed away recently and there are a number of disputes taking place in the family in terms of who is entitled to his assets. He has also not left a will behind.
my uncle has 2 children from 2 different women. one was conceived during wedlock (who he later divorced) and the other out of wedlock.
My uncle also has 2 sisters and his parents are still alive too.
I am asking here to get a rough idea as we are awaiting a solicitor still.
With the above information can anybody help who the beneficiaries are at all?
Answers
No best answer has yet been selected by izzymem. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Quite a complicated one.
It's not clear from your post whether he eventually married the second woman.
Assuming he didn't I think the answer is that the estate is divided equally between the two children.
If he did and they were still married when he died, she gets it all if it was a small estate; above a certain figure (�125k?) the two children start getting a look in as well - 50% of the excess divided between them and the rest when the widow dies).
I don't think the parents and sisters get anything.
But you need expert advice to be certain - I could have got things horribly wrong and have certainly oversimplified them..
In Scotland and Northern Ireland the rules are slightly different BTW.
If the kids are over 18 then they are entitled to administer the estate themselves. If one of them is over 18 and the other under then the Probate Office might want a second administrator to look after the minor's interests.
If they are under 18 then someone needs to do it for them - whoever becomes their legal guardian is simplest. Doesn't have to be one of the sisters or the grandparents - could be a trusted third party. Again the Probate Office might be happier with two.
Also if they are under 18 the estate will go into trust so trustees will need to be appointed. They don't have to be the same people as the administrators but it can be simpler if they are.