The idea that your family members would ever challenge the terms of your last Will & Testament can be a very distressing one. Most people would like to think that, regardless as to its content, their family would respect their final wishes. The reality, however, is that it is becoming increasingly common for Wills to be contested by surviving family members. This was recently reported on in England (available here) where there has been a string of highly publicised challenges to the terms of someone's Will....
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The importance of professional advice in drafting Wills has always been stressed by solicitors working in the field. However, there are instances when people are attracted by the perceived convenience, and often 'cheap deal', of Will writing services offered by organisations. Unfortunately, these Wills have the potential to lead to unnecessary stress, heartache and expense. A recent example of this concerned the estate of Mr Ebenezer Aregbesola (reported here) and the resulting lawsuit against Barclays Bank for their drafting of a Will....
According to experts, thousands of families will need to review their will to ensure that their loved ones will benefit from the new inheritance tax allowance introduced by the Government....
While it may come as no surprise that nine out of ten between the age of 20-29 years old do not have a will in place, worryingly almost two-thirds of those aged between 40 and 49 also did not have a will.
60% of those aged between 50-59 did not have a will in place meaning that a significant amount of people in the UK run the risk of dying intestate, meaning that their will shall be divided according to state rules.
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