Changes to the Intestacy Rules
01/02/2009 Important changes to Intestacy rules are detailed below and are effective from 1 February 2009. When somebody dies without leaving a Will then the distribution of their assets is governed by the Intestacy Rules. The capital amount which a surviving spouse or civil partner takes outright, known as the statutory legacy, has been increased from £200,000 to £450,000 where there are no surviving children, and from £125,000 to £250,000 where there are surviving children. These increases are long overdue and, whilst generous, can still leave a widow or widower in financial difficulties. It is as important as ever that everyone makes a Will to ensure that their assets pass in accordance with their intention. For more information about creating a Will, contact Belinda Butler-Smith bbutlersmith@callaghans.co.uk
|
