Property News · September 20, 2014

Wills and inheritance: how changes to the intestacy rules affect you


The laws dividing your assets if you don’t have a will change radically on 1 October – but common-law partners still get nothing. We report on the winners and losersThe biggest overhaul of laws governing what happens to someone’s money when they die without a will come into force on 1 October – and “common law” partners may be shocked to discover they still have absolutely no protection, while the children of married partners may find they are in line for less than they thought.If someone dies without a will, there is a set of intestacy rules that determine who gets what. The rule changes won’t affect people who die with less than £250,000 in assets. But for those with more – and there’s a growing number following the explosion in house prices – it could have a crucial impact on the people they leave behind. Continue reading…

Source : theguardian.com
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