If someone dies without making a will, there's no spouse and their only son is estranged and untraceable, who inherits their £0.5m estate?
Just curious like
HRMC...
death and taxes.
Me.
email in profile.
Would a 'friend' have any claim?
*cough*
Me! I'm the untraceable son!
Estate is liable for some IHT anyway, as over IHT threshold (I assume on that headline figure of £0.5m).
'estranged' I suspect is not relevant for intestacy. 'untraceable'. Well. I dare say they could be traced. Would have to be a very good 'friend' !!
Edit: some links:
https://www.gov.uk/inherits-someone-dies-without-will
http://www.adviceguide.org.uk/england/relationships_e/relationships_death_and_wills_e/who_can_inherit_if_there_is_no_will___the_rules_of_intestacy.htm
and (for Scotland) http://www.hmrc.gov.uk/cto/customerguide/page14-24.htm
There are firms of, essentially, private detectives who specialise in this sort of thing. They'd try very hard to track down the son so they can then claim a percentage of the estate as a fee.
As above - estranged is irrelevant.
Try watching that daytime tv prgoramme.
It works through other living relatives: parents, grandparents, aunts, uncles, cousins, grandchildren etc can all have a claim. If no living relatives then the government get it - but for £0.5M there are detective agencies who would do their best to match up the missing son (and or other relatives) in the hope of getting a finders fee.
Ah OK thanks folks I wondered how it worked.
Friends have no chance then 🙁