When someone dies, the usual main asset is a property. And the rise in property prices means that the value of a typical estate is higher than ever.
Because of the more complicated family structures around today – people remarrying, people having children without getting married – you have more potential beneficiaries and the way in which money is distributed to those beneficiaries is potentially more complicated and open to dispute. A classic example is when a man remarries and has children with a second wife or gets children from his second wife’s previous relationship, and then disinherits the children from his first marriage – and obviously, they don’t think that’s fair.
The number of inheritance disputes reaching the High Court this year is at a record high. This is being blamed on changing family make-up and the rise in property prices.
In this broadcast from Share Radio, broadcaster Georgie Frost asks Barrett & Co’s Justin Sadler about the meaning of “reasonable financial provision” and discusses Ilott v Mitson, the case that is changing the landscape for this area of law.
If you’ve listened to Justin Sadler’s advice on Share Radio and would like to meet him to discuss a disputed inheritance at our offices in Queens Road, Reading, you can book a one-hour appointment for only £95 including VAT.