New intestacy laws come into effect

clock

Reforms simplifying what happens when someone dies without leaving a will came into force on 1 October.

Among the changes, which are outlined in the new Inheritance and Trustees' Powers Act, are that, when someone who has no children dies intestate, their whole estate will pass to their spouse.

Previously, a complex set of criteria were used which, in some cases, allocated parts of a deceased's estate to several family members.

Additionally, when someone dies intestate and they do have children, the way their estate is split between their spouse and children has also been simplified.

A large number of people die without leaving a will

The government has also closed a loophole to make sure children who are adopted don't lose their inheritance after their parent's death.

The Ministry of Jutice said the reforms bring the law into line "with the expectations of modern society" and will make the process easier to manage for relatives and friends.

Justice Minister Lord Faulks said: "We want to make sure that when someone dies, and they haven't left a will, their property will be dealt with sensibly and as quickly as possible. That is why we have made these common sense changes to modernise the law and make administering an estate faster and easier.

"A large number of people do die without leaving a will each year, and I would encourage people of all ages to ensure they have properly considered making a will so that, if the worst happens, their own wishes are followed."

The Bill received Royal Assent in May this year.

More on Individual Protection

Little change in economic inactivity: ONS

Little change in economic inactivity: ONS

Number of vacancies decreasing

Jaskeet Briah
clock 17 December 2024 • 3 min read
Beagle Street adds protection offering to OneFamily platform

Beagle Street adds protection offering to OneFamily platform

Replatformed by iPipeline

Jaskeet Briah
clock 12 December 2024 • 1 min read
Young adults turning to social media for health information

Young adults turning to social media for health information

Half of adults have self-diagnosed in the last year

Jaskeet Briah
clock 11 December 2024 • 3 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read