"Vulture" syndrome

EdInvestor

Telegraph

One in four deaths now sparks a bitter row between family or friends over the inheritance of the deceased, a report has disclosed.

Any thoughts on how this can be avoided, other than spending all the money so there's nothing left to fight over?

wallbash

Write a comprehensive will.

Errata

If researchers decide what they're looking for before they look for it, they'll usually find it.
I doubt there are more family rows about who gets what and why now than there have ever been, so Seddons would have to find earlier studies and compare their findings to prove this is this happening more frequently now than previously.
Expectation of an inheritance and being disappointed is as old as time.

EdInvestor

The rise in home ownership and house prices in recent years has undoubtedly caused an increase in inheritances. In the 1970s less than half the population owned their home, now it's 70%.

Gers

My experience:

1) dead brother (aged 56) with an ex wife and 1 adult child [ii] estranged wife with 3 adult children and [iii] money grabbling floozie with 1 minor child, old will + 5 children + living abroad = probate chaos.

2) elderly living mother divorced from dead father - many years ago I started a 'campaign' to have her write a will and make things extremely clear about her wishes, mostly down to [iii] money grabbing floozie. Unfortunately the situation became instantly resolved with the death of my only brother but it's not a happy one. Now I am the only beneficary but wish it were different though I am grateful to be free of [iii] money grabbing floozie!

sloughflint

One in four deaths now sparks a bitter row between family or friends over the inheritance of the deceased, a report has disclosed.

Believable. I can't recall the figure but a significant percentage of the population has no Will.

Then factor in those people that use Will packs, online companies or crook companies like those featured here.

Throw into the pile numerous lousily written solicitor Wills.

EdInvestor wrote: »

Any thoughts on how this can be avoided,

Force the will-writing industry to be properly regulated and suitably qualified.
(Society of Trust and Estate Practioners are qualified in this field)

In many cases such disputes could have been minimised or even avoided altogether if the deceased had prepared a properly drafted and up to date Will and discussed his or her intentions with the family before their death.

In my opinion, the last point should not be necessary if the Will is watertight.

margaretclare

The old saying 'where there's a will there's relations' springs to mind.

Human greed is as old as humanity itself. However, more people have 'things to leave behind' than used to be the case. A few generations ago, ordinary people would be satisfied to leave behind 'enough to bury me with' and, where I grew up, a 'ham tea' for mourners, friends, neighbours and sympathisers.

A lot now centres around house values. On the AgeConcern discussion boards there have been a few interesting and - to me anyway - surprising comments. Have a look: http://www.ageconcern.org.uk/discuss/messageview.cfm?catid=14&threadid=4510&STARTPAGE=2

There are two themes in those postings: distant relatives turning up out of the blue hoping to contest a will, and a widowed father with partner wanting a share of the property as against son/daughter with a share. Neither was anything I had ever heard of before!

The idea of 'an inheritance' used to be confined to the richer end of society, now it is much more widespread.

Also, families are more fragile. Second or even third marriages with earlier families are now much more common.

lostinrates

Wills, wills, wills. My late M-i-L dies regretably young, before I met DH, 10 or so years ago. The disagreements rumble on and relationships have been pretty horribly damaged.

The factor which rarely gets discussed but impacted on me was that because the resentment over how the intestacy was handled our marriage was greeted by suspicion from Dh's siblings (suppose they have children and get more when Dad dies) and my F-i-L new slightly younger wife, with a child from a previous relationship, which should be a joy to everyone IMO, is hated because now 'she will get it all'. While I'm sure there would have been rumblings whatever, a will would have cut the time this has gone on for, the querying if their mother really cared and made the newcomers to the family a lot easier assimilated!!

Be_Happy

Gers wrote: »

My experience:

1) dead brother (aged 56) with an ex wife and 1 adult child [ii] estranged wife with 3 adult children and [iii] money grabbling floozie with 1 minor child, old will + 5 children + living abroad = probate chaos.

2) elderly living mother divorced from dead father - many years ago I started a 'campaign' to have her write a will and make things extremely clear about her wishes, mostly down to [iii] money grabbing floozie. Unfortunately the situation became instantly resolved with the death of my only brother but it's not a happy one. Now I am the only beneficary but wish it were different though I am grateful to be free of [iii] money grabbing floozie!

I'm not sure about this, but doesn't the situation become even more difficult now as your dead brother's child/children will share his part of your mother's estate. See extract below:

The substitution
If a member of the category has died before the intestate leaving a child or children, the child or children take their deceased parent's share, if more than one in equal shares, subject to reaching the age of 18 or getting married whichever is earlier.

localhero

Edinvestor wrote:

One in four deaths now sparks a bitter row between family or friends over the inheritance of the deceased, a report has disclosed. Any thoughts on how this can be avoided, other than spending all the money so there's nothing left to fight over?

sloughflint wrote:

Force the will-writing industry to be properly regulated and suitably qualified.
(Society of Trust and Estate Practioners are qualified in this field)

So is the Institute of Professional Willwriters who are likely to provide an affordable option to most for their Wills. In addition, the IPW have been operating to a strict code of conduct for many years and have been actively campaigning for compulsory regulation of all willwriters.

STEP are very good, but they are also expensive - more so than the average high street solicitor - though worth paying the extra out of the two, though not always an option for those on a budget.

Here's what the Office of Fair Trading says about the IPW's Consumer Codes Approval Scheme: http://www.oft.gov.uk/news/press/2008/58-08

missile

You can pick your friends but not your relatives. Who can say what is a fair distribution between kids, grandkids, great grandkids, friends, in laws, charities et al. IMHO it is for each of us to decide and write a will accordingly.

My dear mother is 86 and I think she worries too much about who will inherit what. I would far rather she enjoyed her money and will be very pleased if she leaves £0.00