Sunday, 24 April 2011

Where there's a will there's room for strife - Spend & Save , Money - The Independent

Where there's a will there's room for strife - Spend & Save , Money - The Independent

Battles over legacies are rising. As the recession bites, children left out of wills, or with less cash than they hoped, are turning to the courts either to sue siblings or take on trustees.But if you don't want to leave your family in turmoil after your death, there are things you can do. Children who were excluded from inheritances are more likely to challenge the will nowadays. Many heirs have been disappointed by the sums they have received during the economic downturn and challenging the will or the competence of trustees can be a way of pushing up their share.

The Chancery Division of the High Court in London saw claims involving trusts rise from three in 2007 to 13 in 2008 and 44 in 2009. "This pattern is likely to be repeated across the country," says Fay Copeland, private client partner at solicitor Wedlake Bell. Henry Frydenson of Frydenson & Co Solicitors chairs the 450-member Association of Contentious Trust and Probate Specialists and says: "Those members I have canvassed are seeing this area increase. Death and money do very strange things to people." The figures are also likely to be a small part of the total number of disputes in England and Wales, the majority of which are settled informally or by mediation.

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