View more on these topics

Spouses get more cash on intestacy

Widows and widowers whose spouses die without writing a will are to receive a greater share of their estate in a reform of the statutory legacy laws.

The Ministry of Justice says that from February, surviving spouses and civil partners with children will receive up to £250,000 while those without children can receive up to £450,000.

Under the current rules, people with children receive up to £125,000 while surviving spouses and partners without children can inherit up to £200,000.

A Standard Life survey revealed last year that 50 per cent of people do not have a valid will.

Head of estate planning Julie Hutchison says: “We are dealing with a long overdue refresher of these figures. The changes are good news but people should not be complacent and rely on these statutory rules. The best thing is to have a will to make sure that your personal wishes are put into effect, rather than relying on the fixed rules of inheritance.”

Recommended

Enduring interests

I have been banging on for the past couple of weeks about the now seemingly unfashionable flexible interest in possession trust.

Changing currents in the Pacific

The Far East has been a topic of much discussion for some time now among investors. Led by the giant stories of China and India, the region’s rapid rise upward captured attention and had started to change the way people saw investing in Asia.

UK housebuilders remain a value trap – despite post-Brexit falls

Despite the sharp drop in housebuilders following the Brexit result, valuations in the highly illiquid market are still at elevated levels. And whilst some investors may take comfort from superficially low price/earnings multiples, are earnings sustainable over the long term, asks Holly Cassell, Assistant Manager of the Neptune UK Mid Cap Fund. Click here to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment