Wednesday, 26th July 2023
Intestacy Rules - Major changes come into effect today.
What Happens If You Die Without a Will?
The statutory legacy has increased from £270,000 to £322,000. This means that if you die without a Will (die intestate), the first £322,000 will pass to your spouse/civil partner and the remainder of your estate is shared as follows: 50% to your spouse/civil partner and 50% shared equally between the children.
More than half of UK adults do not have a Will and many assume that dying intestate means your property is shared out equally amongst your immediate family. This may not be the case.
Unmarried partners or partners who have not registered a civil partnership cannot inherit from each other unless there is a Will. This can cause serious financial hardship for the surviving partner.
Our Intestacy Flowchart below shows what happens to your estate should you die without a valid Will.
Get in touch with our Wills and Probate Team to see how we can help you.
on 0333 188 4758 or enquiry@tmtlegalservices.co.uk