How to Avoid Losing Your Inheritance

Every year thousands of people lose out on an inheritance through no fault of their own.

Losing an inheritance can be devastating emotionally as well as financially. How can this happen?Lost inheritance

There are a number of circumstances that can result in assets that should pass to a loved one or friend when a person dies, failing to reach them.

Imagine how frustrating and upsetting that can be.

One of the major reasons for people losing out on an inheritance is the cost of care for an elderly relative.

Paying for care is a big problem for increasing numbers of older people. Charges for residential care average between £2,000 and £4,000 per month and can rapidly swallow up life savings and even the value of an elderly person’s home.

This situation is unlikely to change under the new regulations introduced by the Care Act 2014.

However, this is not the only reason why family assets do not get passed on to the next generation.

These are some of the other ways in which an inheritance can be lost:

  • Divorce or relationship difficulties
  • Bankruptcy
  • Intestacy
  • Disputes over the deceased’s will
  • Dishonesty
  • Financial claims by the deceased’s partner
  • Inheritance tax

The good news is that there are solutions that are easy to put in place and can mean the difference between losing an inheritance and keeping it – whether it is a fortune or a small nest-egg.

Find out more at our  Wills & Probate Workshops

Failing to plan ahead is the most crucial factor in why your relatives may never get the benefit of the gift you want to leave to them after your death.

Join us and discover simple steps to securing your family’s future. Come to our popular Wills and Probate Workshops.

We explain how to avoid losing your inheritance.

We show you

  • what can go wrong
  • easy solutions to prevent family assets being lost

Receive our informative guide to take away and free membership of our BE My Own Lawyer service.

Our workshops are held in West Bridgford Nottingham and other locations around the East Midlands. Book your place now

Posted by Rosamund Evans 19.01.15

Image: Velvet Gift Box by scottchan courtesy of freedigitalphotos.net