Legal Resources and News

Tens of millions of pounds belonging to about 80,000 young people without the capacity to make financial decisions could be locked in trust funds.

On the 26th July 2023, the statutory legacy for the surviving spouses of those who die intestate increased from £270,000 to £322,000. The new rules dictate that if the deceased has children, their surviving spouse will inherit receives the first £322,000 of the estate, all personal possessions and 50% of the remaining estate; the other 50% is divided equally between the children or their descendants if a child predeceases.

We’ve spoken with a lot of people who have been appointed as an executor in a Will and have decided to deal with Probate and the estate themselves. Whilst there is nothing to stop people from doing this, we come across so many misconceptions about the process and costs involved, it can be quite alarming!

Neves Solicitors has expanded the specialist Private Client team with the appointment of Senior Private Client Executive, Tristy Pateman, who is based at the Luton Office.

Not only is it important to make a valid Will, it is also worth ensuring that your Will remains up to date, which is something that can often be overlooked.

We would recommend that you review your Will regularly, at least every few years, to ensure that it is in line with current tax and drafting practice and also reflects any changes to your personal and financial circumstances.