What Is Statutory Legacy?

What Is Statutory Legacy?
What Is Statutory Legacy?

When someone dies without leaving a legal will, they are said to have died “intestate.” The law will then decide who receives the deceased’s assets. If you die intestate and are survived by a spouse or civil partner, as well as your child or children, the statutory legacy takes effect. This is a predetermined payment for the surviving husband or civil partner before the remainder of the inheritance is distributed.

The statutory legacy was raised from £270,000 to £322,000 on July 27, 2023. For example, if you die intestate, leaving a surviving husband or civil partner and a child or children, the surviving spouse will receive:

£322,000 in assets, including your domestic furnishings and personal belongings, plus a 50% share of any remaining assets.
The remaining 50% will be passed on to any biological children you have when they reach the age of 18.

This may not be the desired conclusion for others. As a result, it is critical to prepare a will to ensure that your desires are carried out.

It is vital to understand that if you are cohabiting with your spouse and are not married, you have no inherent right to inherit any of their inheritance, regardless of how long you have been cohabiting or if you have children together.

To secure your preferences and the future of your family, prepare a legitimate will in which you specify who you want to inherit your estate.

Please do not hesitate to contact our Wills and Probate team if you would like to discuss making a will, estate planning, or administration.

Avatar of DLS Solicitors by DLS Solicitors
2nd October 2023
Avatar of DLS Solicitors
DLS Solicitors

Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.

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