The Government has announced an increased in the statutory legacy when someone has died without making a Will.
Currently if someone dies intestate leaving a spouse or civil partner and children (when they haven’t made a Will), their surviving spouse or civil partner will receive a fixed sum and any money surplus to the fixed sum will be divided equally between the surviving spouse or civil partner and children of the deceased.
Since 2014 the statutory amount has been £250,000, this is to increase to £270,000 on 6th February 2020.
Whilst £270,000 may seem a lot of money, it may not be a large proportion of the estate especially if there is a house. Writing a legally valid Will with the help of a solicitor will ensure that your estate is inherited exactly how you choose. Please contact Rowena or Emma in our life planning department if you would like more information.