With up to 10,000 people disputing wills each year in England and Wales, thousands of families in the UK are currently embroiled in costly and emotionally taxing court cases.
Why are the number of inheritance disputes rising?
The growth in the number of inheritance disputes in recent years can be attributed to a number of factors. First, as more property-rich baby boomers pass away, the financial stakes for their descendants are higher than those faced by previous generations.
Second, a rise in the number of second marriages is also having an effect and is causing stepchildren to be disinherited. There is also the rise in dementia to consider, which is resulting in additional claims that wills have not been drawn up properly.
Can an LPA prevent inheritance disputes?
As a lasting power of attorney is designed to ensure the best interests of a person are acted upon during their lifetime, an LPA cannot be used to prevent inheritance disputes. You can learn more about what is covered by an LPA online by browsing the websites of specialists such as //powerofattorneyonline.co.uk/.
How can I prevent inheritance disputes?
As the number of people living with dementia increases, ensuring that capacity assessments are made when the will is being drawn up can help to prevent disputes from causing costly and drawn-out legal proceedings. This process is called testamentary capacity.
It’s also important to understand inheritance laws and to seek trusted legal advice when drawing up a will to actively prevent the potential for any party to proceed with legal challenges after your death.
