An extra £20,000 inheritance if your spouse or civil partner dies without a Will…
6 February 2020 by Andrea Godfrey
The law states that if a person dies without making a Will then the intestacy rules apply. The rules were initially made by a statute in 1925 and have not changed too drastically over the years. However, on the 6th February there will be a slight change.
If someone dies without a valid Will they are said to have died intestate. As a result, the Estate passes in accordance with the intestacy rules which set out an order of priority. For married couples or those in a civil partnership, their spouse will inherit the first £250,000 of the deceased’s estate and the chattels (cars, jewellery, etc.) and the remaining assets are shared equally between the deceased spouse and his children. The £250,000 is referred to as a statutory legacy. However, as of the 6th February 2020, the government intends to increase the amount that the spouse or civil partner will receive to £270,000 for deaths after this date. The increase is to take into account inflation.
If the deceased did not have any children then the whole estate passes to the spouse or civil partner. In the event there is no surviving spouse or civil partner, then the children inherit the entire estate.
The only way to ensure your estate goes to who you want and avoid increased costs and family disputes is to make a will. At FJG Solicitors we prepare Wills for free under our charitable scheme. Please contact us for further information – call 01206 700113 or email [email protected].