14th July 2023
Changes to intestacy rules
On Fifth of July 2023, the Administration of Estates Act 1925 (fixed net sum) Order 2023 became law and is applicable.
Previously, if a person passed away without a Will in place or valid Will in place leaving a spouse or civil partner together with children who survived them, then that widowed spouse or civil partner would have received the first £270,000 worth of the deceased’s estate together with the deceased’s personal possessions. The widowed spouse or civil partner would also have been entitled to one half of the balance of the estate with the other half passing to the deceased’s children.
For deaths with those same relationship/familial circumstances as above occurring the 26th of July 2023, the amount passing to the spouse or civil partner will increase to £322,000. Otherwise, the entitlements remains as it was previously.
For any questions about entitlement under the intestacy rules for those persons who have already passed away and for whom a grant of representation has not yet been applied for, or for answers to the question as to who is able to act as administrator (and who is not), please contact one of our probate team on 01892 510 222.
Edward Walter
Partner
Solicitor
Private Client
Office : Hello world!
01892 502 320ewalter@bussmurton.co.uk
Profile
Edward is a Partner in the Private Client Department. He started practising Private Client Law in 2000, initially as a solicitor in a well-known firm in Tonbridge and thereafter with several well-known East Sussex firms before joining Buss Murton in July 2014. Edward became a Partner in 2015.
He advises and acts on all aspects of Inheritance tax planning and Capital Gains tax planning. He also acts in Probate administration matters and post death Variations for Inheritance tax and Capital Gains tax purposes. He also regularly advises clients regarding the making of their Wills, Powers of Attorney, Lasting Powers of Attorney, Declarations of Trust with respect to client’s properties.
He undertakes the full range of advice and work with respect to Trusts and advises on associated tax implications of those actions. He also advises generally on (tax) domicile and residence issues.
He regularly advises and acts on the registration of Lasting and Enduring Powers of Attorney, the making of Statutory Wills and gift applications at the Court of Protection.
Expertise
Inheritance Tax Planning
Capital Gains Tax Planning
Wills
Probate and estate administration
Lasting Powers of Attorney
Declarations of Trust
Court of Protection
Estate Planning
Taxation advice
Succession strategies
Residence and domicile matters
Trusts
Alternative Contact:
Emily Luker
01892 502 346
eluker@bussmurton.co.uk
Beth Ahsunollah
01892 502 348
bahsunollah@bussmurton.co.uk
LinkedIn Profile
Articles
- Will Beneficiaries, Claimants and Disputes
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- A Tale of Two Deeds of Variations – Part 2
- A Tale of Two Deeds of Variations
- Changes to intestacy rules
- What can possibly go wrong with a standard life insurance policy, and what can be done about it?
- Digital LPAs and why, for now, we are not using them
- Illustration of ‘unexpected Capital Gains Tax issues’ arising…
- The LPA amendment Bill – what it means for you and yours