MoJ consultation on draft Inheritance and Trustees' Powers Bill
The Ministry of Justice has launched a consultation on the draft Inheritance and Trustees’ Powers Bill, to close on 3 May.
The Bill gives effect to recommendations of the Law Commission on intestacy and family provision claims on death.
Currently, certain family members and dependants may apply to court for reasonable financial provision from the estate, whether or not the deceased left a will, under the Inheritance (Provision for Family and Dependants) Act 1975. The Bill would extend this right to someone claiming to be a dependant, even if the deceased did not assume responsibility for their maintenance, and to anyone treated as a child of the family by the deceased even if there was no marriage or civil partnership. It would make an intestate’s spouse or civil partner the sole beneficiary, unless there are children or other dependants. The intestacy rules have not been reviewed for more than 20 years.
The Bill would also amend the Trustee Act 1925 so that trustees can apply the whole, rather than only half, of the trust assets before the trustee reaches adulthood.
