Inheritance disputes are becoming more common, with even the strongest of families falling victim to post-death disagreements. While having a will doesn’t guarantee that everyone will be happy with your wishes, it should help reduce the risk of inheritance feuds after you have gone. Here we look at the rise of inheritance feuds and how to avoid them.
Common Reasons for Inheritance Disagreement
Exclusion
A family member might be shocked if they are not included in a will, especially if they were expecting to be left something. They may have even been told by the deceased that they were in a will.
Dying Intestate
If you die without a valid will in place, then you are classed as having died intestate. In this case, the estate is distributed according to intestacy rules. If the deceased had a long-term companion but was not married, or if there are estranged family members the deceased would not have wanted included, this might lead to serious problems between families.
Blended Families
Because stepchildren and cohabiting partners are not taken into account by the requirements of intestacy, blended families can become complicated when handling an estate.
Bad Will Planning
A high percentage of people do not have a valid will, even though many discuss who they would like to leave what to when they pass away. For instance, if an unmarried partner is left out of the will, stepparents may overlook stepchildren.
DIY Wills
A common misconception is that a will is just a document listing a person’s possessions and beneficiaries. Many handwritten wills are not legally enforceable, which can lead to serious probate issues and inheritance disputes. A will should also be stored correctly and easy to find.
Why Are Will Disputes Increasing?
One of the leading causes of the increase in inheritance disputes may be the acceptance of blended families. Homemade wills are an additional item to consider. Thousands of people created do-it-yourself wills during the pandemic, and many of them would have done it incorrectly. Although it is unlikely to have a significant influence on the inheritance figures at this time, it is expected to do so in 20 to 30 years. Lastly, there is more to argue because people now hold more assets.
If you require help with estate planning, you should contact a professional, such as Intestacy Rules.