This is a question we're asked a lot. We think a lot of people incorrectly assume that if they’re married or in a civil partnership and they die without a Will, the survivor of them automatically inherits everything.
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wills, trusts and estate planning
Tens of millions of pounds belonging to about 80,000 young people without the capacity to make financial decisions could be locked in trust funds.
On the 26th July 2023, the statutory legacy for the surviving spouses of those who die intestate increased from £270,000 to £322,000. The new rules dictate that if the deceased has children, their surviving spouse will inherit receives the first £322,000 of the estate, all personal possessions and 50% of the remaining estate; the other 50% is divided equally between the children or their descendants if a child predeceases.
We’ve spoken with a lot of people who have been appointed as an executor in a Will and have decided to deal with Probate and the estate themselves. Whilst there is nothing to stop people from doing this, we come across so many misconceptions about the process and costs involved, it can be quite alarming!
Neves Solicitors are pleased to announce a number of well deserved promotions across several departments, recognising the valuable contribution that our staff are making to the continued success of the law firm.
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