Proposed legislative changes to intestacy rules
Proposed new legislation will simplify the rules applying to an estate where there is no Will. If there are no children or other descendants, the new rules would ensure that everything goes to the surviving spouse or civil partner, rather than other family members such as parents or brothers and sisters.
Where there are children or other descendants, the current complicated trust structures will be made simpler.
There will also be protection for children who are adopted after the death of a parent so that they may still benefit from that parent’s estate on death.
The consultation is ongoing so the final form of the new legislation is not yet known.
Here at Gill Akaster we recommend that you make a will, rather than relying on the intestacy rules. This way you can save your loved ones any unnecessary stress and upset, and ensure you remain in control with what happens to your estate.
Speak to our professional Wills, Trusts and Taxes team today by calling 01752 203500 or email isobel.yandle@gillakaster.com.
Isobel Yandle, WTP department