Janice Chapple had always been assured by her mother Phyllis that she would inherit her possessions eventually. However, when Phyllis passed away in 2012 and left her estate to Janice’s stepfather Vic, Janice remained hopeful that her family’s fortune would eventually come to her. Unfortunately, Vic had secretly rewritten his will and left all of Phyllis’s belongings, including her home, to his cleaner. Janice was devastated to learn that she had been completely cut out of her mother’s inheritance.
Inheritance disputes like Janice’s are becoming increasingly common, especially in blended families where parents have divorced and remarried. A significant number of these families fail to update their wills, leading to conflicts and the disregarding of parents’ wishes after their passing. The rise in estate value has intensified these disputes, with an estimated £5.5 trillion expected to be transferred between generations in the next 30 years.
The government’s upcoming figures on taxpaying estates reveal the record number of bereaved relatives who have registered their estates, amounting to £7.1 billion in inheritance tax payments in the 2022-23 financial year. This trend is reflected in the 52% increase in contested probate cases at JMW Solicitors during the first half of this year.
However, these inheritance disputes can be avoided with proper planning. One common pitfall is relying solely on mirror wills, which can be easily changed or entirely rewritten by surviving spouses. In Janice’s case, her stepfather inherited everything and left it all to his cleaner. Ensuring specific assets or money goes to intended beneficiaries requires more than a mirror will. It is crucial to explicitly state these wishes in a separate letter accompanying the will.
Moreover, old wills become invalid and revoked automatically upon remarriage, potentially leading to unintended recipients inheriting assets. Reviewing and updating the will after significant life events, such as marriage, divorce, or the birth of a child, is essential. Similarly, divorce overrides previous wills and treats the ex-spouse as if they had died for the purpose of the will.
In cases of blended families, careful planning is crucial to avoid any unexpected inheritance issues. Developing a comprehensive plan for how money will be passed on ensures that the desired beneficiaries receive the intended amounts and minimizes tax burdens. The recent dispute over Aretha Franklin’s estate highlights the importance of clear wills and testamentary wishes for avoiding disputes among family members.
In conclusion, inheritance disputes are on the rise, particularly in blended families. Proper planning, avoiding reliance on mirror wills, regularly updating wills after significant life events, and careful consideration of complex family dynamics can mitigate these conflicts and ensure that individuals’ wishes for their estates are respected.
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