Increase to the Statutory Legacy

When someone dies without a Will, the ‘intestacy rules’ govern who will inherit their estate. Broadly speaking, the rules work through family members from most immediate to more distant. Where a person exists in any category that is where the estate passes.

The highest-ranking family member would be the spouse or civil partner of the deceased. It is not the case however that a spouse or civil partner would necessarily inherit the whole of the estate.

If a deceased person had both a spouse/civil partner, and children then, dependant on the value, the estate could be split between them.

The spouse/civil partner will be entitled to what is known as a statutory legacy. This is a set sum of money which they are entitled to. The amount of the statutory legacy is reviewed by the Lord Chancellor no less than every five years. The most recent review has increased the amount of the statutory legacy to £322,000.00 for deaths from the 26th July 2023. Any deaths prior to that date will remain at the previous threshold of £270,000.00.

Once the statutory legacy has been paid to the spouse/civil partner, any excess value of the estate is shared 50% to the spouse/civil partner and 50% between the deceased’s children.

In the event of an intestacy where the deceased had a spouse/civil partner, but no children then the whole estate will pass to the surviving spouse/civil partner.

The contents of this post do not constitute legal advice and are provided for general information purposes only.