We've discussed this on the TBI blog earlier in the year ---- the case of IIlott V Mitson - where a mother's wishes were overridden and the Court awarded her disinherited daughter 164K from the Estate. It also highlights a major danger in DIY Wills. If you want to give to charity in your Will we also have some informative information on that too, here.
Death duties are among the most hated and controversial of all taxes, with growing numbers of families affected by them. The Exchequer is not the only beneficiary from growing inheritance tax receipts. As part of their tax planning, and as a way to limit the impact of inheritance tax, more families are giving large sums to charity, either late in life or as bequests in their wills. But the tax implications are not straightforward. And the status of wills is also constantly shifting, with courts occasionally overturning the wishes of the deceased in favour of children and other dependents For some it is far higher.