Intestacy rules change
The intestacy rules govern what happens if someone dies without a Will, and as we mentioned last year, the rules have been unfair for a very long time because of the effects of inflation.
Up until 1st February, if someone died without a Will and had a spouse, the first £125,000 would go to the spouse if there were children, increasing to £200,000 if there were no children. However, the new rules now mean that the first £250,000 will pass to the spouse if there is no Will in place. If there are no children, then this is increased to £450,000. These rules apply only to England and Wales.
Of course, if you have assets at this level, you must put an effective Will in place. However, for those who don't, at least the level of protection for the spouse has increased.
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