Statutory legacy intestacy entitlement increases
The legislative rules that apply if a person dies without a Will, which set out who is responsible for the administration of their estate and who will inherit, are known as the rules of intestacy.
In England or Wales, the amount that the surviving spouse or civil partner can inherit under intestacy rules – the statutory legacy – has been increased from July 2023.
Under the Administration of Estates Act 1925 (Fixed Net Sum) Order 2023, the UK government has raised the statutory legacy sum from £270,000 to £322,000.
The previous sum was set at the start of 2020 and would usually be due for review in five years, but this period can be overridden by inflation increases of 15% or more.
This means that the uplift applied from 26th July 2023 is actually several months late, and the government’s failure to keep up with the consumer price index in this regard could mean some inheritors would have lost out on thousands of pounds.