Starting July 26, 2023, the statutory legacy on intestacy will increase from £270,000 to £322,000. This increases the amount a surviving spouse or civil partner is entitled to receive from the estate in the event of the deceased’s intestacy, especially when there are children involved and no valid will has been made. Understanding the estate administration process and the law is crucial for planning for the future of loved ones. Even if a valid Will is in place, the law determines what happens to the estate. The increased statutory legacy amount will result in a larger payout for a spouse before their children. A legitimate Will is the easiest and most efficient approach to safeguard loved ones after death. In case of incapacity, a Lasting Power of Attorney can help manage affairs and protect assets. Our Private Client team can assist with retirement planning, drafting a Will, and dealing with the estate of a deceased loved one.
