It has been reported that the increase in the number of children involved in inheritance disputes has been fuelled by the rise in property prices.
As the value of property has soared during the last decade, the estates of ‘ordinary’ families have become more likely to prompt inheritance disputes as families go to war over the division of assets. The high court saw a 11% rise in the last year.
One reason for this surge is due to the rise in more complicated family structures which ash led to more relatives, such as step-children, expecting to benefit from the estate.
The children of the deceased can make a claim under the Inheritance Act if they feel reasonable provisions have not been made for them. There is also an option for those who were treated as the deceased’s child to claim against the estate, even if no formal or legal arrangement exists – such as when children have been fostered or adopted.
A professionally written Will along with the correct advice can ensure that your Will is clear and legally binding.
29 January 2016
The views expressed in this blog do not in any way constitute advice and are specific to the date noted. As time passes the facts can change and readers should consult their adviser for up to date advice on any matters covered within the blog. Invest Southwest offers an initial review, which is free of charge, however long it takes. From this we will be able to confirm how we can help and give you an opportunity to decide if you would like us to. Thereafter, we will provide you with detailed recommendations and exact costs. Please note that we promise not to levy any kind of fee unless we can demonstrate a benefit to you.
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- Do I need a Solicitor for probate?
- Inheritance Tax reporting for excepted estates
- The difference between probate and estate administration
- How do you own your property? And why does it matter when you die?