Case Study 2 - Wills
Richard dies intestate and is survived by his wife, Victoria and his parents, William and Violet. Richard and Victoria have no children.
The matrimonial home is worth £350,000 and is held by Richard and Victoria as joint tenants. Richard also owned personal items worth £25,000 and investments worth £300,000.
Victoria will receive the matrimonial home automatically, by operation of the survivorship rules.
Provided Victoria survives Richard by 28 days, she will also receive Richard’s personal items and a legacy of £200,000.
The remainder of Richard’s estate is worth £100,000. This will be divided in two. Victoria will receive one half and the remaining half (£50,000) will pass to William and Violet.
