Millions of people in the UK are still without a will, but even among those who have made one there are a number of common will writing mistakes that could leave families facing costly inheritance disputes
Millions of people across Britain are putting their loved ones at risk of legal complications, family disputes and expensive inheritance battles by either failing to create a will – or making critical errors when drafting one.
Approximately two-thirds of UK adults still lack a will, according to the latest National Wills Report, despite increasing concerns surrounding inheritance tax, blended families and ever more complex financial arrangements. Even amongst those who have prepared one, many are falling victim to common pitfalls that could leave relatives locked in disputes over estates or assets ending up with unintended recipients.
Steven Greenall, adviser at Essex-based Greenall Estate Planning, cautioned that one of the most significant errors people make is viewing a will as a ‘write it once and forget it’ document. He said: “A lot of people write a will once and then never look at it again. But life changes. Marriage, divorce, children, grandchildren, property purchases and changes in family relationships can quickly leave an old will no longer fit for purpose.”
Out-of-date wills can occasionally result in inheritances being passed to ex-partners or family members whom people no longer wished to benefit. Steven added: “That can create disputes within families or result in estates being distributed in ways that no longer reflect somebody’s wishes.”
Another significant concern is people neglecting to think about what might happen should family circumstances alter unexpectedly. Steven said: “People often name beneficiaries without properly considering fallback arrangements. As difficult as it may be to think about, children can sadly predecease parents. If there are no alternative provisions written into the will, that can create complications and uncertainty later.”
Experts also caution that many parents fail to give proper thought to the age at which children or grandchildren ought to receive inherited money. Under existing rules, beneficiaries can usually gain access to inherited assets at 18 – but some families may believe that is too young for someone to manage a substantial sum responsibly.
Steven said: “Some families may not feel an 18-year-old is financially ready to receive a significant inheritance. In some cases, it may be more sensible to delay inheritance until 21 or 25 to avoid money being spent irresponsibly.”
Selecting executors and trustees is another area where errors are frequently made. Executors are responsible for dealing with a person’s estate after death, while trustees may oversee money or assets left to younger beneficiaries. Yet Steven cautioned that selecting the wrong people can spark acrimonious disputes and significant hold-ups.
He said: “These are hugely important roles, and people sometimes assume family members will simply sort things out among themselves. But unfortunately disputes are very common when emotions and money become involved. As the old saying goes, ‘where there’s a will there’s relations’.”
He encouraged families to provide clear written directions and, where suitable, to include a separate letter of wishes outlining the reasoning behind particular choices. The National Wills Report also revealed that 29% of those who draft a will neglect to inform anyone of its storage location – adding unnecessary pressure for bereaved relatives.
Steven noted that many families only realise after someone has died that no one knows the whereabouts of the original document. He recommended keeping wills safe with the National Will database and making certain executors understand how to retrieve them.
He added: “A will is not much use if nobody can find it. People should make sure executors know where the original document is kept and how to access it.”
With inheritance tax regulations changing and household finances growing more intricate, Steven warned that delaying the creation or revision of a will could prove expensive.
He said: “Ultimately, a will is about making life easier for the people you leave behind. It is one of the most important documents most people will ever put in place.”
