Death, taxes and family feuds: Why the UK’s courts are flooded with inheritance tax disputes
With the rising cost of living, more and more people are relying on inheritance for their financial stability – and much more willing to go to court over a will, says Scott Taylor
In an unsettling new trend, approximately 40 per cent of British adults are willing to consider challenging a will in court if they believed their inheritance allocation was inadequate, recent research from Level Group has found. This reflects a broader shift in how families view inheritance – not as a windfall, but as an essential financial safety net.
The survey of 2,000 respondents reveals that 23m UK adults are counting on inheritance to maintain financial stability, with more than 25 per cent stating they would face debt without it. This dependency is most pronounced among millennials and those aged 35-44, with over half of millennials acknowledging financial reliance on future inheritance.
As the financial landscape and basic cost of living continues to build, we can expect these numbers to rise. Property values have risen substantially as the previous generations pass assets to descendants, significantly increasing what’s at stake.........
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