Did you know....

People Are Quick To Challenge Wills...

You may think that writing a Will is the best way to stop a family argument on your death. Unfortunately this may not always be the case since the number of disputes over Wills and trusts has increased enormously over recent years.

The two main reasons for this are that people are leaving more wealth, so that it becomes financially worthwhile to contest a Will, and that the rising divorce rate is creating more complex family structures which cloud the issue of who should get what.

Beneficiaries are less willing to accept that the deceased "knew best". They ask themselves what they think they should have been entitled to first, and then decide whether to contest the Will.

In England and Wales, a Will can be challenged under the 1975 Inheritance (Provision for Family and Dependants) Act if a claimant feels that he or she has been given inadequate financial provision by the deceased.

Wills can also be challenged if fraud is suspected; if they have not been written and witnessed correctly; if the deceased is believed to have been mentally incapable of understanding the Will; or if it is believed that undue influence was exerted on him.

So what can you do to make sure that your will is not contested?

If for example you wish to leave differing amounts to your children and dependants or to leave someone out of your Will entirely then you can write what is called an Inheritance Act Statement (or Declaration) to be kept and read alongside your will. Such a statement, typically written at the same time as your Will, will set out your reasons for writing your Will as you have. It is a legally recognised document that would be taken into account should your Will be contested, although it would not be legally binding on a Court.

Alternatively, a simple letter of intent to your beneficiaries, giving guidance on your Will - for example, how any children are to be raised - can also be used to explain your intentions and to reduce the likelihood of a legal challenge being made.

Since the cost of any court action would ultimately be met by your estate (reducing the amount of money available to your beneficiaries) it is vital that you should keep you Will up to date - having an out of date Will is just as dangerous as dying without one.

To discuss Wills please contact Barrie Baker bbaker@coleandcosolicitors.com - 01603 756310

Or to discuss potential claims please contact either Barrie Baker or Ross Burkitt - rburkitt@coleandcosolicitors.com - 01603 756304