Next of Kin & Wills

[stoo_pid]

We are a married couple with no children and only my wife's name is on the mortgage. In the event of my wife's death I understand that as my wife's only next of kin I would get the house anyway (not that I'm planning anything sinister!). However, as we have not got our will sorted out yet, in the event of both my wife & I dying *at the same time* would the house then automatically go to my next of kin (i.e. my mother)?

[pinus]

I may be wrong on this, but as I remember from my executorship studies (many decades ago) with simultaneous deaths, the older is assumed to have died before the younger. So you have to apply the intestacy rules to the deaths in turn. Look here http://www.whitingandpartners.co.uk/Content/The_Distribution _of_Intestate_Estates.htm

[Sylday]

Depending on the value of your house, in the absence of a Will, the surviving spouse might not even get the full value. There is a limit, currently �200,000, on the total estate that goes to a surviving spouse when there are no children. In addition to the one provided by pinus, there is a helpful website at http://www.brethertons.co.uk/willFreePrn.htm

[kags]

Sylvday is right, but jointly held property is excluded from the intestacy rules - therefore if your house is in joint names it will pass to your wife on your death and vice versa, even if it is worth �1million! The problem would be if you held the house as "tenants in common", this is usually done for inheritance tax planning purposes, in which case there would be a will in place anyway. If you are worried, check with the solicitor who handled the purchase. Also, for Inheritance Tax purposes, if you both die at exactly the same time you are deemed to both have half the estate - it would however be physically divided up according to who was the elder, under the terms of the will or intestacy rules.