CHANGE TO THE AMOUNT A SPOUSE OR CIVIL PARTNER RECEIVES UNDER THE INTESTACY RULES
- AuthorRebecca Taylor
If you die without making a valid Will your estate will be administered under the intestacy rules. Under the intestacy rules, if you die leaving a surviving spouse or civil partner and children (or other descendants), the surviving spouse or civil partner is entitled to all personal chattels, a statutory legacy and half of the residuary estate. The children (or other descendants) receive the remaining half of the residuary estate.
Currently the statutory legacy that the surviving spouse or civil partner receives is £250,000 free of tax, costs and plus simple interest from death at Bank of England base rate. The statutory legacy is to increase from £250,000 to £270,000 for deaths occurring after 6 February 2020.
If you require any further advice on this, please contact Chattertons Wills, Trust and Probate team or visit our services page.