Case Study 3 - Wills
The circumstances are the same for Case Study 2 except Victoria and Richard have two children, Belle and Andy.
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 £125,000.
The remainder of Richard’s estate is worth £175,000. This will be divided in two. Victoria will receive a life interest in one half and the remaining half (£87,500) will pass to Belle and Andy equally provided they attain the age of 18 or marry earlier.
If Victoria fails to survive Richard by 28 days then Richard’s personal items and the £300,000 will pass to Belle and Andy equally provided they attain the age of 18 or marry earlier.
