It was recently reported (here) that the Faculty of Advocates has voiced concern over discussions being had on making changes to the law of intestacy as it currently applies in Scotland. In its response to a consultant paper issued by the Scottish Government, which itself was a reaction to a report compiled by the Scottish Law Commission, the Faculty commented that some of the proposed changes to the law of intestacy could have a detrimental impact on the surviving children of anyone who dies without a Will....
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It was recently reported (available here) that as much as £1 billion will be abandoned in bank accounts this year by people who fail to leave a Will. The news article highlights that where a person dies without a Will, the rules of intestacy – the legal formula for distributing property when there is no Will – dictate that the bank must freeze their assets until a beneficiary is found. In turn, the fact that a significant amount of money may be left in a bank may lead to some argument among surviving members about what they think you would have wanted and are entitled to....
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