When a Testator creates a Will, whether through a professional Will Writer or by preparing it themselves, they carefully decide on the gifts they wish to leave to their loved ones. However, if an abatement occurs, these gifts may not be fully distributed as intended. Instead, they might need to be used to pay off outstanding debts and expenses.

Traditionally, cash, properties, high value possessions, investments, etc. all formed part of a person’s estate when they passed away. However, in the 21st century, digital assets are becoming more and more common when administering an estate.

£15 billion – This is the estimated value of unclaimed assets shown to be outstanding in recent research by The Independent. The reason these assets were unclaimed? Simply because a Will could not be located.

In August, we published a blog on the changes being made to the Wills Act 1837, which prescribes how Wills are to be created in the UK. These changes are have now taken effect, so how do professionals feel about the amendment? They’re quite torn.