Statutory legacy for partners raised to £270,000

The government has kept its promise to update intestacy rules every five years – albeit three months after its deadline passed. The change increases the statutory legacy for partners of people who die intestate from £250,000 to £270,000. The statutory legacy was last changed in October 2014 when it was set at £250,000 under provisions in the Inheritance and Trustees’ Powers Act 2014. The figure is meant to be updated every five years. A statutory instrument setting out the increase – which is in line with the consumer price index…

The life stages that go into legacy making

Record property values and family structures make inheritance planning a growing issue yet research1 shows that more than half of adult in the UK do not have a Will in place, with the figure rising to almost 60% among parents. The researchers also found that of those who had made a will, many who had experienced a significant life event, such as marriage or having a baby, had not done anything to update it. But having a will setting out what you wish to happen for your children is the…

Where there’s a Will, there’s a way

When thinking of making a will, the idea of a Victorian lawyer taking down the last instructions at the bedside still springs to mind for many people. And the 19th century lawyer would find things pretty much as they were if they time travelled to 2017, but a major change to how people can say what should happen after their death is likely to happen soon. If the proposals from the Law Commission get the go ahead, the law is likely to catch up with technology, and in future we…

Disinherited daughter receives £164,000 inheritance

In the recent, and heavily publicised case of Ilott v Mitson a woman's disinherited daughter has received £164,000 from her estate. The case involved the estate of the late Melita Jackson and her daughter Heather. Heather had left home at 17 and had not been in contact with her mother for some 26 years and had been excluded from her late mother's will. Ms Jackson had left her entire £486,000 estate to various charities, however, her daughter applied under the Inheritance (Provisions for Family and Dependants) Act 1975 stating that the will failed to…

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