Provisions on Intestacy
I explained how the provisions on intestacy would operate. In the scenario whereby Mrs Mac were to die first, Mr Mac would receive a statutory legacy of £125,000 and a life interest in one half of the remainder of the estate of the first to die. Essentially this would be a life interest in one half of £2,575,000 the other half being held on statutory trusts for the children on attaining age 18.
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