If a person dies without leaving a Will, their estate is subject to the rules of Intestacy. This can often lead to confusion and assets not being distributed as the deceased may have intended. It is, therefore, important to have a Will. This will give clear instruction on how you wish your estate to be distributed after your death. The rules of intestacy have changed and the current position is:
- The spouse receives the first £270,000 (previously this was £250,000)
- The remainder is split into two halves
- One half also goes to the spouse
- The other half goes to the children (or to a child’s own children, if predeceased).
For more information about the rules of Intestacy, please click here.