Law Society launches campaign to restrict will writing to the legal profession
There has been much coverage recently about Will writing organisations. Last year the Probate Section of the Law Society launched an investigation into Will writing societies and problems which people had faced with the Wills prepared by them.
The Law Society has now launched a campaign to restrict will writing to the legal profession.
Perpetuities and Accumulation Act 2009
The Perpetuities and Accumulation Act 2009 received Royal Assent in November 2009 and will come into force this year.
The Statute introduces a single 125-year perpetuity period which will always apply with the option to choose a shorter period. The new period will apply to life time trusts.
Intestacy and Family Provision Claims on Death
The law relating to intestacy and family provision claims on death are being reviewed by the Law Commission.
The proposals in the Consultation paper for consideration include:
- A surviving spouse, where deceased has no children would inherit the whole estate
- In cases where the deceased had children, there are options as to whether the surviving spouse should inherit all, or make minor amendments;
- Couples who have had a child together or lived continuously as a couple for more than five years should have the same rights on intestacy as spouses
- Where couples have lived together for more than two (but less than five) years up to the date of death, the survivor should be entitled to held of the share of the estate that a surviving spouse would have received
- Whether the current preference in intestacy rules for parents over brother and sisters should be retained
- Whether the limit to the value of assets that can be administered without having to obtain formal authority to deal with the estate should be raised from the present level
- With regard to family provision claims, whether a wider range of family members should be entitled to bring a claim
Application Fees
Deputy application fee £400
Supervision fees
– Dependent on the level of supervision set by the Court