Intestacy

In the UK property market, the concept of intestacy plays a significant role when an individual dies without leaving a valid will. This situation activates a set of legal rules known as the Rules of Intestacy, which dictate how the deceased's estate, including any real estate, is to be divided among their surviving family members. These rules are designed to provide a fair distribution of assets, but they may not always align with the deceased's would-be wishes.

The process of administering an intestate estate can be complex and time-consuming, often involving the appointment of an administrator (as opposed to an executor, who is named in a will) to manage the estate's affairs. This individual is typically a close relative of the deceased, and their responsibilities include valuing the estate, settling debts, and distributing the remaining assets in accordance with the intestacy rules.

Intestacy can significantly impact the distribution of property assets in the UK, often complicating the inheritance process for the deceased's relatives. Understanding the rules of intestacy is crucial for anyone involved in estate planning or the administration of an estate without a will. To ensure your property is inherited as you wish, it's advisable to consult with legal professionals to create a comprehensive estate plan, including a well-drafted will.