Government to net £6bn in avoidable Inheritance Tax
Without a will, you cannot ensure that your estate will go to who you want and your loved ones will not necessarily inherit from you.
If you die without a will, it can be very expensive and stressful for your loved ones to deal with your affairs after you have gone. As will disputes have tripled in the last year, a family dispute is increasingly becoming the sad last legacy for many people.
Another consideration, is that far more is often paid in Inheritance Tax than would be the case, if a will is properly drawn up. The Law Society estimates that by 2018, the government will receive nearly £6bn from inheritance tax, which could be massively reduced by having a will and proper tax planning.
Making a will can be simple and straightforward. In other cases, such as where the estate is large, where there are second families or step-children involved, it can be far more complicated.
The Law Society urges people to use a qualified, insured solicitor to draw up their will, because they have the expertise required to ensure that costly misakes are not made.
Many non-solicitors are holding themselves out as qualified to draft wills these days, which could be one of the reasons why will disputes have increased so dramatically.
If you are involved in a dispute over a will, our expert litigators can help.
Contact us for a free no obligation discussion about any of the issues above.