IHT – Deceased left no will

This is one of a number of explanatory articles, part of a set copied under licence from H M Revenue & Customs website:

Introduction – Is Inheritance Tax due?
Calculating Inheritance Tax
Valuing assets
Responsibilities of personal representatives
Business relief and businesses
Discretionary trusts
Deceased left no will
Pensions
Agricultural relief
Deceased's liabilities
Foreign aspects
Joint property
Penalties
Settled property
Woodlands
Probate
Alter Inheritance tax
Gifts
Excepted estates
Paying IHT
Thresholds and Interest

Introduction

This guide is designed to help our customers to obtain a grant of representation, complete an account of the deceased's estate, and pay any inheritance tax (IHT) which may be due.

It also gives advice about lifetime gifts and the taxation of discretionary trusts.

The proposals in the Finance Bill 2006 affect the meaning in this article regarding:

-           gifts into certain kinds of trusts

-           the tax treatment of trusts, known as interest in possession trusts, in which the beneficiaries have a right to benefits

-           the ending of an interest in possession during a beneficiary's lifetime

-           the treatment of funds in alternatively secured pensions on death.

This article will be updated as necessary when the Finance Bill is enacted.

What is an intestacy?

When a person dies without leaving a will, or the will is invalid, we describe them as dying intestate. An intestacy is simply an estate where the person died intestate.

How might the will be invalid?

A will must be:

-           in writing, unless it is a privileged will;

-           signed by the testator or testatrix;

-           witnessed by at least two witnesses who need to be present when the testator signs the will.

If the will does not have one of these elements it is likely to be invalid.

If there is an intestacy, who does the estate pass to?

There are legal rules which determine how an estate passes under an intestacy. If you want to know how the estate you are dealing with will pass under the rules of intestacy, you should contact us directly.

List of other articles in this series

Net Lawman also publishes a similar set of articles relating to Capital Gains tax.

Here is a link to the first index

If you wish to make your will, or just learn what is involved, here is the first part of a series of articles answering your basic questions.

If by chance you find some error of law or fact in any Net Lawman information page, do please tell us. We should also welcome your suggestions for new subjects for information pages. These notes:

• do not provide a complete or authoritative statement of the law.
• do not constitute legal advice by Net Lawman.
• do not create a contractual relationship.
• do not form part of any other advice, whether paid or free.

1. 398 Stamp Duty LT
2. CGT - Taper relief on disposals of business assets on or before 5 April 2000
3. CGT - Taper relief: qualifying holding period
4. CGT - Working out the tapered chargeable gains
5. CGT - Working out the tax due
6. CGT – Allowable Losses
7. CGT – Assets and disposals
8. CGT – Indexation Allowance
9. CGT – Introduction
10. CGT – Post transaction valuation checks for CGT
11. CGT – Reliefs – (other than taper relief)
12. CGT – Taper relief: Business assets and non business assets
13. CGT – Working out the amount chargeable to CGT
14. IHT - Agricultural relief
15. IHT - Alter Inheritance tax
16. IHT - Business relief and businesses
17. IHT - Calculating Inheritance Tax
18. IHT - Deceaseds liabilities
19. IHT - Discretionary trusts
20. IHT - Excepted estates
21. IHT - Foreign aspects
22. IHT - Gifts
23. IHT - Introduction – Is Inheritance Tax due?
24. IHT - Joint property
25. IHT - Paying IHT
26. IHT - Penalties
27. IHT - Pensions
28. IHT - Probate
29. IHT - Responsibilities of personal representatives
30. IHT - Settled property
31. IHT - Thresholds and Interest
32. IHT - Valuing assets
33. IHT - Woodlands
34. Stamp duty on leases