To ask who would inherit in this situation? No will…

[Nameychangeee]

No will.

2 DC that are still young children.

In a relationship with DC’s mother but not married. All live together.

1 parent still alive.

DC’s mother named on life insurance policy.

Who would inherit everything in this scenario? House alone is way over the £270,000 threshold but still has a mortgage on it.

Please no comments stating “get married!”. I just want to know who would inherit. I know it should be DC - but who would “look after” the money/house etc until they were 18?

Man and women aren’t married.

They have 2 young children together.

They live in the same house together that is owned solely by the man. The house is worth nearly £1M and has a small mortgage on.

The man has a life insurance policy that the woman is the beneficiary of. She is also the beneficiary of his pension.

The woman is a stay at home mum who is financially reliant on the man.

If he dies, the children would inherit his assets and house.

However who would be in charge of looking after the money in trust for the children? Would it be the woman or the man’s mother who is in her 70s?

The woman would not be able to afford to pay off the remainder of the house, however the life insurance does include a payment to pay off the outstanding mortgage balance.

So the questions are:
What would happen to the house? If it were sold the money would belong to DC.
Who would look after the children’s trusts?

Would money from the trust be able to be used to the DC’s upbringing?

I remember hearing an awful story on Radio 4 years ago, about a lady with children who was widowed and although her partner had a will, it was technically invalid (something like the witness didn’t date it), and so he died intestate. The courts set up a Trust for the children, and she was forced by courts to sell up the house (their house!) in order to put their share into a Trust for when they were 18. Her other option was to buy her own kids out, which she couldn’t do (maybe yours could with the life insurance)….sounded horrendous. She was essentially pleading with people to make a valid will.

Thank you for taking the time to explain the situation more clearly. I think there are some legally qualified people on here who might be able to help.

Basically the man should write a will to clear up all those questions you ask and if he won't you'd have to wonder why he won't do that. One positive thing is that she is the beneficiary of the life insurance and the pension.
Secondly, I'd be more concerned in that situation about what happens if they split up. What will she be left with? It's financially extremely precarious to be in that position. If he meets someone else she's up shit creek without a paddle. Why aren't they married? Is he dragging his feet?

The mother of the children would apply for a Grant (Letters of Administration) if those children were minors. A second Administrator would also be required. The beneficiaries would be the children.

Now that the person has children, the life assurance should go to them or her partner and not to her own mother.

Please can you repost it giving names so that we know what you're on about? Obviously fake names.

One thing is for certain is that the person they are living with, the partner, is not entitled to anything unless it's written down in a will or life assurance, unless there's an agreement with the mortgage.

What would happen would be a mess. An entirely avoidable mess.