WHERE there is a will… there is a disgruntled relative!
With the family home being many people’s biggest asset it is becoming more common for disappointed relatives to look to challenge the will of a family member if their expectations have not been met.
It is often assumed that the rules which apply when a person dies without leaving a will should apply even if they do – so for example, that each sibling should get an equal share. That is not true and it is a fundamental principle that a person can leave their estate to whoever they wish.
The grounds for challenging a will are limited and will rarely apply. They include:
- lack of “testamentary capacity”
- lack of knowledge or approval
- issues concerning the preparation or signing of the will
- undue influence or duress
- fraud or forgery.
In some cases, there may be grounds for a claim under the Inheritance (Provision for Family and Dependants) Act 1975, but again grounds are limited. There has to be a financial “need” for support on behalf of the claimant, rather than an “expectation” of inheritance.
Planning ahead and taking proper legal advice is always the best option because:
- you ensure your property is dealt with in the way in which you want it to be dealt with.
- a solicitor will properly record the reasons for your decision making and verify your mental capacity, thus reducing the risk of a successful challenge to the will; so-called “home-made wills” can be more open to challenge
- you will be advised regarding potential inheritance tax issues and whether steps can be taken to make the most of any allowances that might apply; this is particularly so when you own a property, due to changes brought in earlier this year.
Your home may well be your biggest asset; don’t leave where it ends up to chance.
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