Guides & Advice. The Intestacy Rules

Transcription

1 Guides & Advice The Intestacy Rules

2 Our Private Client Team We have nearly 300 years experience of advising on the full range of legal issues affecting individuals and families and are recognised as one of the leading firms in the region. Listening to and understanding your needs is at the heart of what we do. We are tremendously proud of the fact that many of our clients stay with us for their lifetimes and, indeed, we act for a number of families across generations. Such trust and mutual respect is based on a rigorous dedication to the law and our ability to empathise with your practical issues. Our team is top ranked in both The Legal 500 and Chambers UK directories and our reputation is built on technical expertise across a broad base of practice areas. We are committed to providing you with clear and comprehensive advice, to ensure the effective transfer of your assets to the next generation As well as covering all aspects relating to wills, probate, tax and trusts we specialise in a range of Court of Protection matters and related capacity issues. We are also highly experienced in handling more complex cases, ranging from multi-million pound trusts and estates involving offshore assets to substantial contested estate cases heard at the High Court. Our team features prominent members of bodies including Solicitors for the Elderly, the Association of Contentious Trust and Probate Specialists and the Society of Trust and Estate Practitioners, while Partner Jonathan Gater is Under Sheriff for Berkshire and an authorised High Court Enforcement Officer. The Intestacy Rules For individuals and their families, the firm has one of the strongest private client teams in the south of England Chambers UK Excellence Integrity Approachability

3 The Intestacy Rules The Intestacy Rules (Administration of Estates Act 1925, s46) deal with the devolution of an individual s estate where they die without leaving a Will. These rules were last updated by the Inheritance and Trustees Powers Act which came into effect on 1 October To a limited extent the rules also apply where there is a Will but due to a defect in the way the Will was drafted, part of the estate is un-disposed of. In this situation there is what is known as a partial intestacy. The application of the Intestacy Rules in most instances will not result in the desired distribution of an individual s estate. The respective rights of the family will depend on whether the deceased is survived by a spouse/civil partner and are summarised as follows:- Unmarried couples 1. The surviving partner of a couple who are not married or in a civil partnership has no right to any share in the deceased partner s estate under the Intestacy Rules. 2. However, in certain circumstances the surviving partner has limited rights under other statutory provisions: If the survivor was being wholly or partly maintained by the deceased immediately before the death, then they can then apply to the Court for reasonable maintenance out of the estate. If the surviving cohabitee had been living in the same household as the deceased for at least two years prior to the death in the capacity of spouse/ civil partner, an application can also be made for maintenance. In those circumstances there is no need to show maintenance by the deceased during his/her lifetime. While the Court has power to award income only and not capital, it can capitalise any income provision awarded.

4 Where there is a surviving spouse/civil partner 1. This spouse/civil partner takes the whole of the estate if the deceased leaves no children. This amends the previous rules. 2. If there are surviving children (or their issue), the spouse/civil partner will receive the following entitlement: All personal chattels A statutory legacy which is currently 250,000 (the new rules include provision for this to be amended periodically) Half of the residue (that is the amount left after payment of funeral expenses, debts, administration expenses and the statutory legacy) outright The remaining half of the residue is then to pass to the surviving children (or remoter issue) of the deceased at the age of 18 Where there is no surviving spouse/civil partner 1. Where there is no surviving spouse/civil partner then any children (or their issue) will take the whole estate absolutely. 2. In the absence of children or remoter issue, the whole estate passes to the other surviving relatives in the following specified order of preference: Parents Brothers and sisters (or their issue) Half-brothers and sisters (or their issue) Grandparents Uncles and aunts (or their issue) Parents half-brothers and sisters (or their issue) 3. If the deceased is not survived by any of the above relatives then their estate will pass to the Crown. Excellence Integrity Approachability

5 About Blandy & Blandy LLP Blandy & Blandy is a regional firm of solicitors, based in Reading and London. The Thames Valley has been our home since 1733 and we have the heritage and reputation that comes with this longevity. We enjoy working closely with our clients and are committed to achieving success with them. For nearly 300 years we have advised generations of clients on all aspects of their personal, family and business lives. Commercially, we provide a full range of legal services to both public and private sector organisations, ranging from national and multinational companies, through to banks and lenders, SMEs and owner-managed businesses, charities and educational institutions, professional practices, landowners and developers and venue and event operators. Our partners and many of our associates are acknowledged as experts by the two major legal directories, Chambers UK and The Legal 500, and we are top ranked as a firm by both. We have also held the Law Society s Lexcel quality mark since Of the 11,000 legal practices in England and Wales fewer than 10% have achieved this gold standard. We are a people business. We place our clients best interests at the heart of all that we do, while ensuring, through our partner led approach, that we embody our values of excellence, integrity and approachability. Feedback from both our clients and peers confirms this we know that actions speak louder than words. We seek to balance our heritage with a modern and progressive approach, in terms of the services we offer and the way in which they are delivered. This, underpinned by our independence, means that our clients continue to trust and recommend us year after year. Contact us If you would like to speak to us about our legal services, please contact our team. T: E:probate@blandy.co.uk W:

6 Our Private Client Team Jonathan Gater, Joint Managing Partner and Head of Private Client T: E: Jonathan specialises in all aspects of estate and trust administration, lifetime estate planning and Court of Protection work. He also assists a number of his clients with the day to day management of their affairs. He is a qualified member of Solicitors for the Elderly (SFE) and a High Court Enforcement Officer. Caroline Casagranda, Partner T: E: caroline.casagranda@blandy.co.uk Caroline is highly experienced in all aspects of private client law. She specialises in Wills, probate and estate administration of taxable and non-taxable estates, Lasting Powers of Attorney and tax planning for a wide range of clients. Caroline is an associate member of Solicitors for the Elderly (SFE). Philip D Arcy, Joint Managing Partner T: E: philip.d arcy@blandy.co.uk Philip is a widely acknowledged expert in resolving disputes in relation to Trusts, probate and inheritance matters, including disputed Wills, claims to remove Executors or Trustees, Breach of Trust cases and Inheritance Act claims. He is an established member of the Association of Contentious Trust and Probate Specialists (ACTAPS). Graham Benwell, Consultant T: E: graham.benwell@blandy.co.uk Graham has over 30 years experience as a dedicated private client lawyer and has particular expertise in the field of tax and estate planning via Wills and Trusts. He acts for many high net worth individuals and their families and has many clients referred to him by accountants, investment managers, IFA s and other firms of solicitors. He is also a founder member of the Society of Trust and Estate Practitioners (STEP). Lorna Sansom, Solicitor T: E: lorna.sansom@blandy.co.uk Lorna Sansom joined Blandy & Blandy s private client team in 2015 from B P Collins in Gerrards Cross and specialises in estate planning, tax and trusts. With a background in financial services, she is a full member of the Society of Trust and Estate Practitioners (STEP) and the Association of Taxation Technicians.

7 Rachel Nott, Solicitor T: E: Rachel specialises in the preparation of Wills, the drafting of Lasting Powers of Attorney, dealing with Probate and Estate Administration for taxable and non-taxable estates, and dealing with the administration of trusts. Having originally trained at the firm, she returned in Elizabeth Short, Solicitor T: E: Elizabeth specialises in Wills, probate and estate administration of taxable and non-taxable estates, Lasting Powers of Attorney and tax planning. She is an associate member of Solicitors for the Elderly (SFE). Patrick Brennan, Solicitor T: E: Patrick specialises in all aspects of private client law, including wills and tax planning, estate administration, and drafting of Lasting Powers of Attorney. He joined the firm in September Jack Bailey, Solicitor T: E: Jack specialises in Court of Protection matters and mental capacity law, including contentious and non-contentious applications to the Court of Protection. He also specialises in Lasting Powers of Attorney and providing advice to lay attorneys and deputies on their duties. Stephanie Scullion, Solicitor T: E: Stephanie joined Blandy & Blandy as a Trainee Solicitor in March 2014 and joined the firm s Wills, Probate Tax and Trusts department in August 2015 upon qualification. She previously worked for a law firm in Guildford as a Paralegal. Deborah Clark, Legal Executive T: E: deborah.clark@blandy.co.uk In addition to dealing with her own caseload, including taking instructions from clients for smaller estates and Wills, Deborah supports the team on more complex matters, undertaking work on a cost-effective basis.

8 Blandy & Blandy LLP is authorised and regulated by the Solicitors Regulation Authority and authorised and regulated by the Financial Conduct Authority. It is incorporated as a limited liability partnership under number OC and its registered office is at One Friar Street Reading Berkshire RG1 1DA. A list of Members may be inspected at our Registered Office. Partner denotes a Member or a senior Employee of Blandy & Blandy LLP.