If I die without a will

[Windib]

Two questions. If I die without a will where will my money go? I have two young DC and no spouse. I think it would go to a trustee who would then look after the money until the children are 18. Is this correct? If so, do I choose who the trustee would be and write it in the will? How is this managed in legal terms to make sure my DC would receive that full amount when they are old enough (and not, for example, that my DC's father uses the money)? If I do not have a will who would the role of trustee be assigned to?

Also, if I do ever remarry I guess I would need to make a new will determining who would get what. Is that correct? If I remaried without a will who would automatically receive my inheritance - my new husband or a split between new husband and DC? Many thanks.

Make a will. Not only can you choose your trustee, but you get to choose how old your kids are when they can get their hands on the money

The Citizens Advice Bureau has the answers to your questions. If you marry, this would alter what your DC get if you did intestate. This is why you need a will and then make another will if you marry. If you die intestate your DC won’t inherit until they are 18 and you don’t choose the trustee. You would if you made a will. I would take advice and get a will that reflects what you want. Don’t let the state tell you.

If you make a will now AFAIK you don't need to make one after remarrying IF your new will states that it's in contemplation of marriage.

Gives a bit of breathing space

Just make a will - you can specify who looks after your DCs for starters and the finances for them do need thinking through

Make a will. It's really easy, you can DIY. Often the age for kids to access inheritance direct is 25, before that the estate is handled by trustees who are nominated by you. It's also a good idea to check out who would be the children's guardians/who they would live with - it may be that they would go to their dad.

Contact @marlowwills or @mumblechum0 she is a long term mumsnetter who is a Will specialist.

Also if you do get a will make sure someone knows where to get find it
My parents was registered at national will safe which made it very easy to deal with when my mum passed away
I also reccomend @marlowills

She did my parents a few years ago and it was all done by post / on line
My parents wanted a will but didn’t want to have to go and see someone or have someone visit them .
My dad is a complete technophobes but found that it was very easy to do.

Thanks @redastherose and @itsjustmee, very kind of you.

OP, if you make a will, you can choose when your children should inherit (18 is often seen as a bit too young), and who should look after the money on their behalf (executors/trustees; usually people appoint close family or friends in this role).

You can also say what you'd wish to happen in the very unlikely event that both parents died before your youngest is 18.

If you don't have a will and are unmarried, then yes, the intestacy rules state that your children receive everything. If you do marry and don't make a will your husband automatically receives the first £270k plus half of the residue; the other half of the residue is all that your children would receive.

If marriage is on the horizon, you could make your will in contemplation of that marriage and declare that the will remains valid after the wedding day, so that your children still inherit whatever you wish to give them, and the will isn't revoked automatically as would otherwise be the case on marriage.

Upon marriage, the op might wish to name her husband as a beneficiary or mention how their home is to be dealt with if appropriate. That’s why she might need to revisit the will. Not necessarily to continue to protect the children.