What happens to my estate in this scenario?

Question

My wife is older than me. She has made a will, I haven't. Our total assets are about £250,000. If we both die together at the same time does our estate go to:
1. Those named in her will because she's made one & I haven't.
2. My next of kin because I'm younger
3. Neither of these, in which case please elaborate.
Thanks.

I hadn't realized it varied by country. Thanks to the US contributors but I should point out I am a UK citizen, therefore I guess the answer should be what happens under UK law.

Answer 1

My understanding is no will, the family misses out and the government gets it,what a waste.You can go to the post office and pick one up, if not contact solicitor for an appointment. Trust me you don't want to make it any harder than it has to be for your family. I don't know if the family fights it in court I don't know if they can or not. Spend the dollars and PS Death knows no age. If your wife dies only then her will is made clear and legal,but is it up to date?

Answer 2

When you say "our total assets" and "our estate" to what do you refer? In California, there is separate property and community property. There is also the law of intestate succession. In CA, as to the community property, half will go to the surviving spouse or to that spouse's survivors. The other half goes to the decedent spouse's beneficiaries under the will or to the next in succession if intestate. Separate property passes as bequeathed, or according to the laws of intestate succession. Unless held in valid joint tenancy with right of survivorship or in some other manner which speaks to succession. You'd have to be way more specific for more info than that.

Answer 3

Your relative ages have nothing to do with it.

In most jurisdictions, there are specific laws to deal with what happens if you both die simultaneously. The specific laws vary by country and by state/province.

Generally, if you people die simultaneously, each is considered to have died before the other for purposes of asset distribution.

So, your assets would be distributed as if she had died long ago. And her assets would be distributed as if you had died long ago. For shared assets, each portion for each of you would be distributed that way.

Again, laws vary by jurisdiction. Consult a licensed solicitor for more information in your particular location.

Answer 4

The law of the land, enacted law, provides for 'succession' through the inheritance laws and the law of succession, in various acts, to cover all situations! The legal heirs would inherit, as per the law of the land: separate wills will regulate the estates ascertainable as separate!

Answer 5

Do you both have life policies covering each other? If you name her as beneficiary and she dies at the same time, the insurance company will consider that you died first and it would go to your contingent beneficiary. This avoids the money going to the estate and going through probate.