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

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In 2023 there were 122 contested probate cases, up from 116 cases in 2022, according to the Ministry of Justice Family Court Statistics.

Philip Collins, Partner at Winckworth Sherwood, said that it “isn’t at all surprising” that there has been a rise in contested probate claims. He said: “We know that significant amounts of wealth, often tied up in property, is currently being passed down to younger generations. Inherited wealth is becoming increasingly important and can often […]