Intestate

[djtdjt]

I am the only son, if my father dies he is assuming everything goes to me, he has not made a will, other relatives are saying this is not so and he must make a will, any advce please, he is in hospital at present, so not a very good time to mention a will.

[Buenchico]

See here:
http://www.hmcourts-s...rvivedTheDeceased.pdf

Chris

[DTCwordfan]

its what the taxman will take which is not good.............he really ought to make a will, if he has not already....many folk have made them without telling their nearest and dearest.

[factor-fiction]

Inheritance tax is not relevant in most cases- only for large estates

[Buenchico]

Inheritance Tax does not apply if the value of the estate is less than £325,000
http://www.hmrc.gov.u...etax/intro/basics.htm

Writing a will, per se, won't reduce any liability to Inheritance Tax. However the financial advice which a solicitor (or independent financial adviser) might provide at same time (e.g. through the creation of trust funds) might do so.

Chris

[dzug2]

If he's still married then he's wrong - his widow will be the main inheritee and you may or may not get something depending on the value of the estate.

If he's already divorced or widowed then if you are the only child then he's right.

[wolf63]

You say that you are the only son - do you have any sisters?

[djtdjt]

No sisters, mother died many years ago, father says all goes to me, uncle of mine said government will take it all if no will! estate not worth more than the £325,000 so assume it will be okay?

[Buenchico]

My link, above, is from the Probate Registry, which is the section of Her Majesty's Courts Service which deals with such matters. It quite clearly shows that everything will go to you.

However, unless your father's estate is very small, you'll still have to apply for 'letters of administration' (rather than for probate) to get the authority you'll need to transfer his money and/or property into your name.

Chris

[jaydah]

You inherit all. Mind a 3rd party doesn't stick a piece of paper for him to sign the assets away.

http://www.adviceguid...he_rules_of_intestacy

[DTCwordfan]

far clearer and easier to have a will and establish probate.