May 2001 IVEN the huge financial mess left behind, it may be a surprise to learn that seven out of 10 people in the UK die without making a will. The most common scenario is for the husband to die leaving behind a wife and children. If this happens intestate, the newly-widowed wife does not simply get everything.
Property typically forms the bulk of most people's estate.
Anything else left over is divided into two pots - one for the children and one for the wife. The children's pot is invested by the estate administrators until they reach the age of 18, when they can get their hands on the money. If they are already over 18, they automatically get this pot. The wife's pot is similarly invested, from which she can take an income - usually in the form of interest. When she dies, the money goes to the children.