Modernisation of Bequest Laws
Changes to the Rules
The introduction of the 2014 Act has brought the critical developments to the law since it had been brought into force nearly 90 years past regarding estates.
These changes affect you:
The most significant change was made to the Tenets of Intestacy (what occurs to your own estate should you die with no Will writing service being used or a legally valid Will).
Beneath the previous rules, in case a husband dies with no Will in place leaving no children, the first GBP450,000 of the estate before going to Property Auctions. would be received by the remaining wife She’d also receive half of personal effects and the balance, using the other half passing to members of the husband’s family; then siblings, parents first and nieces and nephews. Just then does the whole estate pass to the remaining partner whether there are not any living members of family living. Beneath the brand new rules everything will be received by the remaining partner.
The newest rules even have an important effect where the deceased leaves a kids and a surviving partner.
These brand new rules are going to be better for some but still disregard the realities of contemporary life, ‘Partners’ (couples that aren’t married or civil partners) will continue to receive nothing under the tenets of intestacy.
This means any individual treated as a child of a family, even in the event the dead person had not been married to the parent is entitled to create a claim.
It’s always advised that you simply review your Will or use a will writing service Scotland every couple of years and when huge life events occur (including births, deaths and weddings), or when the law changes.