No Laughing Matter For Late Comedian’s Children

Comedian Rik Mayall may have landed his three children with a massive inheritance tax bill.

The 56-year-old star, who played scheming MP Alan B’Stard in The New Statesman, died suddenly at his London home after a morning run in June last year. But he failed to have a valid will in place. That could mean there was no will or it couldn’t be found or it was badly written.

If Mayall had left his entire £1.2m estate to his wife in a will, no inheritance tax would be due. But under the rules of intestacy, his wife receives the first £250,000 and half the remainder. His children receive the other half but inheritance tax of 40% is levied on anything above £325,000.

It’s worth noting at this point that if you die without making a will and there is no surviving spouse or blood relative, your home, money and possessions pass to the Crown.

Jointly-owned property passes to the surviving owner(s) under the rules of intestacy. But tenants in common need to beware because their share could end up being administered by a government department.

Write your will now and save your family a fortune. Contact Heritage Will Writing on 02380 879243.