Probate property lawyers can now access the National Will Register portal to obtain Inheritance Data's financial assets and liability searches, which will help speed up the process of finding a deceased person's assets and liabilities.
Donata Crossfield, RG Law's Wills and Probate Property Lawyer, has always advocated for a more joined-up approach and believes this is going in the right direction. 'With this additional service, we will now have the advantage of utilising financial asset and liability information all in one place, which will streamline our workflow and save our clients and us valuable time.' We are looking forward to using the TOUCH portal.
Daniel Cane, Operations Director for Inheritance Data, was quoted in the National Will Register's post saying they were proud to expand their relationship and offering with The National Will Register. Understanding a person’s financial assets and liabilities is vital during estate administration, and being able to provide this alongside The National Will Register's Will Search Service is key to ensuring convenience to all solicitors.
What happens if you die without a Will?
Under the Administration of Estates Act 1925, the spouse and children do not automatically receive everything in the deceased's estate. Invariably the surviving spouse is treated harshly because the survivor’s entitlement is limited to a sum of £250,000 (plus personal effects), with a limited interest in half of the balance which remains after that.
If there are no children but surviving siblings or parent, then the surviving spouse or civil partner takes a sum of £450,000 and one half of the balance, with other relatives taking the other half. The surviving spouse or civil partner can only take the whole estate if there are no surviving children, siblings, or parents.