Increase in Will disputes attributed to rising property prices
It has been reported that the increase in the number of children involved in inheritance disputes has been fuelled by rising 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 116 cases of children challenging their parents’ estates in 2015, compared with 104 in 2014 – an 11% rise.
One reason for this surge is due to the rise in more complicated family structures which has led to more relatives, such as stepchildren, 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 adopted or fostered.
A professionally written Will for a couple of hundred pounds can ensure that the estate, potentially worth hundreds of thousands of pounds, is protected in line with their wishes.
We can offer professional advice to ensure that your Will is clear and legally binding. If you would like more information please contact us.