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| less than a minute read

Nobody likes thinking about dying but...

It's a good idea to keep your Will up-to-date, especially if there has been a significant change in your personal circumstances like the ending of a relationship. People may also forget about funds where a beneficiary can be nominated, such as a pension. 

While an application to the court under the Inheritance (Provision for Family and Dependants) Act 1975 may be possible, it's not quick and it's not cheap. Just remember Illot v Mitson in the Supreme Court last year, or Jarndyce v Jarndyce where the only winners were the lawyers...

This case highlights the vital importance of reviewing your will periodically and after a significant change in circumstances to ensure that the terms reflect your current wishes. It also demonstrates the court’s preference to award a life interest in property rather than a capital sum where provision is limited to maintenance.

Tags

wills, inheritance, inheritance act claims, family, inheritance tax planning, trusts and inheritance tax, wills and succession planning, family business, writing and reviewing a will, trusts and estates disputes