The rise of accidental inheritances
The Telegraph reports that so-called accidental inheritances are on the rise because people forget to check who benefits from their pension when they die. As they are mostly written into trust, pensions aren’t covered by wills and so forgetting to update pension forms can mean the wrong person receives part of the legacy. Pension consolidator Phoenix Group says three out of five people have not checked who the beneficiaries of their insurance policies are since setting them up, and one in five have benefited from an inheritance they never knew existed.
The Daily Telegraph, Money, Page: 3, via The Letter of the Law