hi everyone,
need some advice. forgive me if i should have posted this somewhere else but was not sure where else to post this.
anyway my wife and i are joint tenants. we have two children aged 10 and 8 but we do not have a will yet.i am aware that as joint tenants, the property goes to the surviving spouse if one of us should die.
what i am not sure of is what happens if (God forbid) the two of us should die at the same time without a will. do the kids get the property?will they have to pay tax etc.
i intend to get a WILL sorted out but want to know what will happen if we were to die without one. any information or links will be appreciated.
thanks