Intestacy rules update increases statutory legacy to £270,000

If someone dies without a Will, their estate is distributed according to the intestacy rules. 

Under the current intestacy rules, a married partner with children receives the following:

• personal possessions
• First £250,000
• Half residuary estate

The children of the person who has died intestate, once they get to the age of 18, get half of the residuary estate in equal shares.

If the deceased had no children, then the surviving partner will receive everything.

The statutory legacy was last increased to £250,000 when the Inheritance and Trustees Powers Act 2014 came into force in October 2014 and at the time the government promised to update this every five years.

The newly increased statutory legacy came into force on 6 February 2020.

The above provision do not apply to unmarried partners with children. Many unmarried couples are not aware that where a person dies intestate in these circumstances it can cause huge problems and distress for the surviving partner.

Anyone who has a need to get a will drafted should seek legal advice about writing one, otherwise their estate may not pass to whom they want it to, whether that be an unmarried partner, friends or even charity.

Our private client department have vast amount of experiencing in advising clients in relation to their wills, including drafting wills if you have never had one before, or updating wills due to a change in life circumstances.

If you or someone you know would like some further information about who would inherit their estate under the intestacy rules, then please contact one of our team who would be happy to have an informal chat with you over the telephone.