Legacy increase to benefit married and civil partners

Married people and civil partners whose other half dies without leaving a will are set to receive more cash under government proposals published today (28 August).

Advertising

The government has acted to increase the statutory legacy after concerns were raised that the limit, currently set at £125,000 and £200,000, was too low.

From the 1 February 2009 the new levels of the statutory legacy will increase to £250,000 and £450,000.

Justice Minister Bridget Prentice said: "This increase will give extra protection to married couples and civil partners whose spouse or civil partner dies without making a will.

"But it also highlights how important it is for both men and women to make arrangements for their loved ones in the event of their deaths.

"Married couples and civil partners should not assume that when their spouse or civil partner dies, they will automatically be entitled to everything. It is up to individuals to make sure that their wishes are respected by making a will.

"My message to people is, don't leave it to chance. Make sure your loved ones are properly provided for by leaving a will."

FTAdviser BLOGS RSS

Latest Post  

What to learn from the financial affairs of Michael Jackson

What is the lesson we can learn from the financial affairs of Michael Jackson - other than... read more

SIGN UP TO NEWS ALERTS




AXA Winterthur's new generation of SIPP offering

Tony Moore, head of retirement development at AXA Winterthur, talks about the company’s new generation of SIPP offering; Family Suntrust.

Click here to read the full feature


FTAdviser  Jobs  RSS