Intestacy rules: change on the horizon
By Alex Barker and Ian Bradshaw
The Inheritance and Trustees’ Power Bill received royal assent on 14 May to become the Inheritance and Trustees’ Power Act 2014. In this update, we revisit our article from last August to provide a reminder of the changes that are due to come into force in October 2014.
The act changes several issues around the law of inheritance, but the focus of this update is on the amendments to the intestacy rules that govern the distribution of an estate in the absence of a valid will.
Broadly speaking, the act changes the default distribution to make it more favourable to a surviving spouse or civil partner of the deceased. The position is changed both where the deceased is survived by issue (meaning direct descendants — children, grandchildren, great-grandchildren and so on) and where the deceased leaves no issue behind but is survived by at least one parent or one full sibling…
Click on the link below to read the rest of the Goodman Derrick briefing.
News from Goodman Derrick
Briefings from Goodman Derrick
The High Court has considered whether the defendant indemnifier was liable under a contract of indemnity, when the claimant indemnified party had not yet paid out the sums owed to the creditor.
The amusing story of one ‘selfie’-obsessed macaque monkey has turned into a row that raises novel points of copyright law.
Analysis from The Lawyer
Active financial management is vital, but with firms looking more closely at the process of debt and fee collection, the personal touch still counts
The lure of the law can kick in at any stage of life. We speak to four individuals who have made a radical switch to a legal career