Legal Resources and News

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!

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.

Do you receive rental income on a jointly owned property?  

If so, it is worth considering the income tax implications of this if you have not done so already.

We routinely prepare Declarations of Trust for joint owners of property who are in receipt of a rental income, but who split this income in different proportions between themselves. 

Neves Solicitors are expanding the specialist Private Client team with the appointment of Associate, Josie Birnie, who will be based at the Harpenden office.

Josie qualified as a solicitor in 2003 and specialises in Private Client matters. Since qualifying, she has acquired a wealth of experience in areas such as Wills, Estate Planning, Probate and Estate Administration, Powers of Attorney and Trusts.