Lawyers say they’ve seen a rise in the number of families contesting a will. When can you challenge a will?
The idea of a will is that you can decide who inherits after you’ve died, but there are – limited – circumstances in which it can be challenged.
It seems that a combination of the tough economic conditions and a rise in the number of second marriages and has meant that more people are willing to contest or challenge a will than before. But the process of challenging a will can be lengthy, emotionally draining at best (and incredibly divisive at worst) and expensive. And there’s no guarantee that you’ll get the financial benefit you believe you’re entitled to at the end of it.
Figures show that only one in three adults has a will, but without one you can't decide who inherits when you die.
If you’ve put off drawing up a will because it seems a bit depressing, too complicated or too expensive, don’t put it off any longer.
Sorting out a will is something most of us put off for as long as possible. Unfortunately, while many events are predictable others are not and the danger is that you could simply leave it too late. Figures show that around two thirds of adults don’t have a will, but without one you have no control over who inherits money and property that you leave behind.
Many of us pay too much tax by not making the most of tax allowances. Make sure you're not one of them.
The end of the tax year may not stir up the same emotions as 31st December (unless you're an accountant!) but it shouldn't be ignored.
Would you turn down free money? Probably not. But many of us do exactly that because we don’t make use of the tax allowances the government gives us. There’s no point getting stressed about end of year tax planning and racing around trying to save every last penny, as few of us make the best financial decisions when we’re under pressure. But there may be some straightforward steps you can take that mean you’ll be able to keep a little more of your money and give a little less to the taxman.
