Statutory legacy increase for spouse or civil partner
If someone dies without making a will they are said to die intestate. Special rules known as the intestacy rules, determine how much of their estate their partner (married spouse or civil partner), children and other relatives will inherit.
Under intestacy rules, if there are no children, the partner will inherit the entire estate.
If there are children, currently partners will inherit all of the deceased’s personal property, the first £250,000 of the estate and half of the remaining estate – the other half will go to their children.
As from 6th February 2020 the statutory legacy amount will be increased to £270,000.
Simon Davis, president of the Law Society, welcomed the announcement but stressed the importance of writing a will. ‘This increase is very welcome but many people are unaware that under intestacy laws, unmarried partners and close friends cannot inherit,’ he said. ‘Writing a legally valid will with the help of an expert solicitor ensures people’s estate is inherited exactly as they would choose and can prevent a whole raft of problems landing on loved ones when they are grieving.’
The situation remains that a will is needed to ensure that your estate passes to the beneficiaries you chose. Our expert team can assist you to prepare your will and to encourage you to make a will we are offering a 10% discount on wills prepared during January and February if you quote ‘GL Will Offer”.
For more information and take advantage of this offer in January & February call 01908 689341 or email dkulczykowska@geoffreyleaver.com.
Dagmara Kulczykowska | Partner