How to ensure your inheritance ends up in the right hands

How to ensure your inheritance ends up in the right hands

A recent article in The Times pointed out that an increasing number of Wills are being challenged in the courts by family members after the death of the person who made the Will. The family member believing they had been overlooked or accidentally left out of an inheritance they expected to receive or in some cases were entitled to receive an inheritance under the law.

The law cited in these cases is often the 1975 Inheritance (Provision for Family and Dependants) Act under which they may or may not have a valid claim.

It was reported that actions brought under this Act have increased from 15 cases in 2005 to 116 cases in 2015. However the true number of challenged Wills is without doubt much greater since many cases will be settled out of court or in the county court.

In all cases the costs of defending a claim will substantially diminish the value of the estate to the detriment of those you wanted to inherit.

There are high profile claims which get press coverage but the vast majority stay out of the news.

In making a Will what can you do to minimise potential claims on your assets after your death?

Firstly, your wishes and circumstances are unique. As a consequence it is unlikely that a ‘do it yourself’, ‘buy online’ or any type of ‘free’ Will can address your unique circumstances.

Secondly, seek professional advice to alert you to issues, potential claims and possible solutions.

 

Do feel free to contact us for help and advice.

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