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Inheritance Act
The Inheritance Act generally refers to legislation that governs how the estate of a deceased person is distributed, especially when the will does not make reasonable financial provision for certain family members or dependants.
Specifically, in England and Wales, the Inheritance (Provision for Family and Dependants) Act 1975 allows certain individuals—such as a spouse, former spouse, child, or other dependants—to make a claim against the deceased’s estate if they believe they have not been provided with reasonable financial support through the will or under intestacy rules. The court can then order a redistribution of the estate to ensure fair provision is made for these claimants. This Act applies regardless of what the will states or if there is no will at all.
Key points about the Inheritance Act 1975 include:
- It empowers courts to vary the distribution of an estate to provide for family members or dependants who have not been adequately provided for.
- Reasonable financial provision can include monetary assets or other estate assets, including those disposed of within six years prior to death.
- The Act was introduced to improve upon earlier family provision laws and has been amended to reflect changes such as civil partnerships.
In a broader sense, inheritance laws (including intestacy laws) determine how property is passed on when someone dies, either with or without a will. These laws vary by jurisdiction but typically prioritize spouses, children, and close relatives. If no eligible heirs exist, the estate may pass to the state.
In summary, the Inheritance Act is a legal framework designed to ensure that dependants and close family members receive fair financial provision from a deceased person’s estate, especially when the will or intestacy rules fail to do so adequately.