What happens if I die intestate?

[whataboutbob]

I am married with 2 children, and my assets are mainly a house, owned as joint tenants with my husband, and some savings around £30000. No previous spouses for either of us.
Would the house automatically go to DH as he is joint owner (which is what I'd want anyway). What would happen to the savings?
My other close relatives are a brother, and a father who is seriously unwell with dementia. Neither of them would make any claims, I'm pretty sure. Bro is not at all money minded or materialistic.
Not being morbid, but I am 49 and my mum died suddenly at 54.

[originalmavis]

Its messy. Ir you die interstate you could end up with assets frozen until probate is sorted out. If you don't have a power of attorney (financial and health) your husband doesn't automatically get right of say over you and your affairs if you become incapacitated.

[Archer26]

Power of attorney automatically ends on your death so this would be if no use if you died intestate. As joint owners your house share would go to your husband but your other assets would be frozen until letters of administration and probate were obtained.

[Archer26]

Apologies, the house share would go to your husband but again only once your estate it settled, not immediately.

[titchy]

The house would go direct to your dh and would not be regarded as part of your estate. After that laws of intestacy apply and first £250k goes to your dh. See here:
https://www.gov.uk/inherits-someone-dies-without-will/y/england-and-wales/yes/no

[titchy]

Assets can be frozen even with a will until probate granted. Technically letter administration not probate if no will I think.

[RandomMess]

How would you feel if you died suddenly and your DH got the house and then a couple of years down the line (or even a few decades) then the entirely house value went to his new wife and you dc never saw a penny...

[FreeWorker1]

It really is not sensible or necessary to die intestate.

A short trip to a good solicitor will protect the people you love and make their lives a good deal easier. It does not have to be expensive but watch out for the fees that will be charged if you die. Banks do Will writing quite cheaply but sting the estate with high charges when you die.

[RandomMess]

Don't even have to do that.

Mumblechum on here advertises "MarlowWills" so inexpensive as no VAT and so on. All on-line or by phone.

[Archer26]

You don't always need a professional to create a will. You can purchase will writing kits relatively cheaply from w h smith etc. It gives you instructions to ensure it is witnessed correctly. This is always an option if a relatively simple estate. We did this with my dgm and her estate was settled with no concerns.

[mumblechum1]

thank you for the recommendation.

OP, as a pp pointed out, you ought really to consider what would happen if you died first, and your husband later remarried. On his death, his estate would go mainly to the new wife (ie the first £250k plus half of the rest), thereby seriously risking your children's position.

By making a will incorporating a life interest trust, you could ring fence your respective shares in your home for your children.

This works by gifting your share of the house to trustees on behalf of the children, but allowing your husband to stay in the house until his death or remarriage. I normally also include a portability clause so the surviving spouse can move/downsize if necessary.

[whataboutbob]

Thanks everyone it's all sobering but needs considering. Obviously if the grim reaper came knocking with some advance notice I'd have no trouble drafting that kind of will. I discussed wills with DH who informed he he would not remarry if I died. Still who knows what would happen, so really the responsible thing would be to have a will which ring fenced my share of the house for the kids.
Should I also think about potential care fees? My mum left me a house in her will but because it was in joint names with dad, it went to him on her death. Now Dad has dementia, and it will probably have to be sold to pay for his care, so I won't get to inherit it.

[specialsubject]

it's not morbid. I guarantee you are going to die. Therefore you need a will to direct your estate as you want.

hopefully you won't die soon - but you need to sort this. You also need to make provision for your kids if it happens before they are independent.

[whataboutbob]

You're right SS. I will do it for sure and before long. Heck it might even be fun in a weird way, setting out my most important and considered wishes in black and white.

[specialsubject]