Legal Updates

Intestacy ''no substitute'' for a valid will

Date:  05 Sep 2008

Professionals wishing to make provision for the financial futures of their loved ones should consider making a will, it has been claimed.

According to Nicola Plant, a partner at Thomas Eggar, intestacy is no substitute for a valid will declaration where the distribution of assets is concerned.

Individuals who die without making a will risk leaving only a small proportion of their estate to their spouse, she claims.

At present the stator legacy for spouses and civil partners is capped at the first £125,000 outright where children are also beneficiaries.

Ms Plant states: "As from February next year the government are going to increase this. They announced last Thursday that they are increasing the statutory legacy for a married couple with children to £250,000 from £125,000.

Information and advice from will writing experts may be of benefit to professionals planning for the future.

Vizards Tweedie have a large Private Client department covering all tax, trusts, wills, probate and all areas of Private Client work.

Contact Tony Millson, Christine Green or Judith Cuxson for specialists advice.

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