Latest news with #wills
Telegraph
24-05-2025
- Politics
- Telegraph
Predatory marriages could be banned after pensioners ‘groomed' for inheritance payouts
Ministers are considering reforming marriage rules to stop elderly people from being preyed on and their families disinherited. So-called 'predatory marriages' – which lawyers claim are on the rise – see the elderly and vulnerable groomed into marriages they may not properly understand. Current rules mean that pre-existing wills are invalidated when a person marries, meaning that spouses, who can inherit without paying any death duties, stand to get everything under intestacy laws. But a major report from the Law Commission, published last week, recommended that wills should no longer be discarded when a person marries. In a letter to Sarah Sackman, a justice minister, and Fabian Hamilton, a Labour MP, raised the case of Joan Blass, a 91-year-old woman suffering from dementia who married a younger man in a 'secret' wedding. She was widowed in 2008 but towards the end of 2011 struck up a conversation with the man, who was standing at the end of her garden. Within a month, he had moved into her spare bedroom. The marriage – made without the knowledge of Ms Blass's family – meant that when she died in 2016, she was buried in an unmarked grave, against her wishes, and 'stripped of all her assets and money'. Her husband claimed she did have the capacity to marry him and that it was a 'loving and caring' relationship, the i newspaper reported. Mr Hamilton wrote on X: 'The Wills Act hasn't been updated since 1837. Marriage should never revoke a previous will. 'The Law Commission has put forward decisive recommendations. I have written to the justice minister calling on the Government to act on them.' Current rules 'hard to justify' The Labour MP put forward a Private Members' Bill in 2018 proposing a change in the law, which was supported by MPs including Rachel Reeves and Sir Ed Davey. Mr Hamilton said he had been contacted by several families who had experienced 'predatory marriages', demonstrating the scale of the issue. Daniel Edwards, a partner at law firm Browne Jacobson, said many people were unaware of the rule, and that it 'can seem a little hard to justify, given changes in society since the rule came about.' Mr Edwards added: 'It is also one that can be open to abuse; in cases of 'predatory marriage' a will – that perhaps leaves everything to the testator's children – would in all likelihood be revoked by a marriage. 'While Law Commission reports can sometimes take years to be considered and debated in Parliament, the fact we have already seen the Government's response suggests there is motivation and intention to bring forward changes in the not-too-distant future.' Government 'recognises current law is outdated' Ms Sackman said in response to the recommendations: 'Marriage should no longer automatically revoke a will – this recommendation is designed to address the problem of 'predatory marriages' where vulnerable people are befriended, and the effect of the marriage is to disinherit families and others from any will they have made.' The Law Commission began looking into wills in 2016, before pausing the research in 2019 to focus on marriages at the Government's request. It published the results of two public consultations and draft legislation earlier this month. Other recommendations from the review included allowing children to make wills, making electronic wills valid and the recognition of more informal wills. The commission also proposed abolishing rules which stop second spouses, stepchildren and divorced partners from challenging mutual wills under the Inheritance Act 1975. Ms Sackman added: 'The reforms proposed by the Law Commission are significant and wide-ranging. They deserve detailed consideration. 'The Government recognises that the current law is outdated, and we must embrace change, but the guiding principle in doing so will be to ensure that reform does not compromise existing freedoms or protecting the elderly and vulnerable in society from undue influence.'
Times
22-05-2025
- Business
- Times
At last, a proposal to overhaul 188-year-old wills legislation
Death and taxes may be the two certainties in human existence — but legal strife is a subcategory that is rapidly attaching itself to the former. Battles over wills and inheritance are rolling before the courts in growing numbers as a boom in property prices over the past 30 years has significantly increased the value of previously modest estates. Within the past few months alone, this newspaper has reported on a court row between an alternative therapist who specialised in energy wavelength treatments and her sisters over their inheritance and two emotional support dogs, and another between an electrician and his sister over a £700,000 estate where a video showed the sister 'propelling' their mother's hand to sign a deathbed will. The wealthy
Daily Mail
21-05-2025
- Politics
- Daily Mail
Getting married might NOT revoke your old will under plans by government's legal gurus
Getting married might not automatically revoke older wills in future under plans to protect vulnerable and elderly people from financial predators. Changes drafted by the Law Commission would mean former beneficiaries were not immediately disinherited, because at present a previous will becomes obsolete on marriage. This rule favours new spouses, because if someone dies without making a new will the intestacy rules allow them to inherit all or most of an estate. There are ways to protect your existing arrangements if you wish, by making a new will 'in contemplation of marriage' that cannot be revoked, or very soon after you marry. But many people are unaware of these rules, and vulnerable or elderly people can fall victim to 'predatory marriage' by unscrupulous people looking to inherit their estates. The Law Commission, a body that reviews laws and recommends changes to the Government, last week published a draft bill to replace the Wills Act 1837 - which it described as 'outdated' and 'largely a product of the Victorian era'. Its proposals include abolishing the rule that a will is automatically revoked when someone marries or enters a civil partnership, 'bearing in mind the serious problem of financial abuse, particularly of the elderly'. The Commission adds: 'This rule can be exploited by those who enter a predatory marriage with a vulnerable person – marrying them in order to inherit from them. 'Predatory marriage is a form of financial abuse which has devastating consequences for the victims and their families.' The Commission's other proposals to update existing legislation on wills include: - Reducing the minimum age when someone can make a will from 18 to 16; - Increasing protections for people coerced into making a will; - Clarifying the law on testamentary 'capacity', which determines whether someone is fit to make a will; - Making electronic wills formally valid, subject to requirements to ensure they are safe and reliable. The Government responded that it will give detailed consideration to the Law Commission's 'significant and wide ranging' report, and make further announcements in due course. Sarah Sackman KC MP, Minister for Courts and Legal Services, says: 'This is the first major review of the law on making wills since the Wills Act 1837 was passed. That legislation established certain important principles in English and Welsh law that have stood the test of time, such as people being free to make a will to set out how they wish their assets to be distributed after their death. 'Another important principle it established was putting in place formalities to making a will so that safeguards are built into the process. 'However, society has changed enormously since the early 19th Century and technology has transformed our lives.' Sackman went on: 'The Government recognises that the current law is outdated, and we must embrace change, but the guiding principle in doing so will be to ensure that reform does not compromise existing freedoms or protecting the elderly and vulnerable in society from undue influence.' Emily Deane, technical counsel at the STEP body of inheritance professionals, says: 'Reform of the Wills Act is long overdue and is welcomed. 'It brings with it far-reaching implications particularly concerning the proposed abolition of the law that revokes a person's will when they marry or enter a civil partnership. 'People need to be made aware ahead of any changes to the law, the impact, and the importance of having a will and keeping it updated. 'This will ensure that any changes do not lead to an increase in inheritance disputes and litigation, further strain on the legal system, confusion and distress for bereaved families.' Deane notes that the legal profession is split over whether marriage should revoke a will because it could mean more inheritance disputes. Therefore, she says potential risks and unintended consequences need to be addressed and any changes accompanied by a strong awareness campaign by the government. Deane adds that ahead of any change to the law, people should watch out for signs of financial abuse, including predatory marriage, which often aren't discovered until after a victim's death. She also stresses the critical importance of updating wills, especially after significant life changes like marriage, and when children and stepchildren are involved. Jade Gani, chief executive of Circe Law and Director of The Association of Lifetime Lawyers, says: 'We're analysing the full detail of the Law Commission's recommendations, but we welcome this long overdue review and believe the proposed reforms are a positive step towards modernising wills law. 'The changes should make the process clearer, more accessible, and better suited to the way people live today. 'The proposal to remove the rule that automatically revokes a person's will when they marry or enter a civil partnership is a welcome move. 'It could help reduce the risk of people being left unintentionally intestate and offer stronger protection against financial abuse, such as in cases of predatory marriage. 'We support changes that aim to better safeguard and protect anyone whose circumstances make them vulnerable, and ensure their wishes are respected.'
Yahoo
19-05-2025
- Business
- Yahoo
Fifth Third Becomes First Bank to Offer Free Wills to All Customers
New Digital Offering Helps Millions of Families Plan Ahead Through Exclusive Partnership with Trust & Will CINCINNATI, May 19, 2025--(BUSINESS WIRE)--Fifth Third (NASDAQ: FITB) today announced a first-of-its-kind initiative to offer free wills to every customer, through an exclusive partnership with Trust & Will, the leading digital estate planning platform in the U.S. Starting today, millions of Fifth Third customers can access a secure, guided online experience to create a state-specific, attorney approved will – at no cost and in less than one hour. This experience is designed to be simple and stress-free, ensuring peace of mind and a streamlined legal process for more American families during what can be a time of great emotional turmoil. This pioneering offer from Fifth Third and Trust & Will seeks to addresses a significant gap in estate planning in the U.S. According to Trust & Will's 2025 Estate Planning Report, which surveyed 10,000 Americans aged 18 and over, 83% of Americans think a will is important, and yet only 31% have one in place. This lack of preparedness isn't evenly distributed. Older generations, wealthier households, and men tend to be more prepared, while younger adults, lower-income individuals, and women lag behind. "At Fifth Third, we are leading the industry with digital solutions that solve everyday banking needs," said Ben Hoffman, chief strategy officer and head of consumer products at Fifth Third. "First, we focused on getting customers paid as early as possible, which then streamlined how they paid others. In response to evolving threats of scams and fraud, we reinforced security protections to better protect customers identity and money. Now, we're thrilled to address another gap in financial planning with this novel partnership, securing our customers' legacies for generations to come." For many families, not having an estate plan can result in significant financial strain and stress. Without a will, families may struggle to access critical funds needed for funeral expenses, rent, or everyday bills. By offering free wills to all families, Fifth Third Bank and Trust & Will proactively address these concerns, ensuring families of all income levels have access to modern tools to secure their legacies and protect what matters most. "We believe every family deserves peace of mind," said Cody Barbo, CEO of Trust & Will. "Our mission is to make estate planning accessible to all, and this partnership brings us one step closer to that goal." Fifth Third customers can learn more about Trust & Will and get started at About Fifth Third Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC. About Trust & Will Founded in 2017, Trust & Will is the leading digital estate planning platform in the U.S., trusted by over one million individuals and families. Our simple, secure, and attorney-approved online solutions help Americans easily create wills, trusts, healthcare directives, and other essential estate planning documents tailored to state-specific laws. With a focus on easy access and a guided experience, we're transforming how families plan for the future and protect their legacies. Our platform supports 17,000+ financial advisors, along with 150+ enterprise partners and financial institutions — including AARP, Fifth Third Bank, LPL Financial, UBS, and USAA. We empower professionals to integrate estate planning into their client services, enabling multi-generational wealth planning. With more than one million users and $100+ billion in self-reported estate assets, Trust & Will is redefining estate planning as a relationship-deepening driver of financial wellness. Recognized for innovation and leadership, Trust & Will has earned spots on the CNBC Disruptor 50, Inc. 5000, and Deloitte Technology Fast 500™ lists. Learn more at Category: Other View source version on Contacts Sophie Isherwood (Media Relations) Matt Curoe (Investor Relations) | 513-534-2345 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Business
- Yahoo
Inheritance feuds to rise as warring relatives in line for more rights
Second spouses, divorced partners and stepchildren should be able to challenge binding wills for more money, a landmark report has said. In England and Wales, a person's possessions are left to whomever they choose. However, if a potential heir can prove they were financially dependent on the deceased – even if they were cut out of the will – they can go to court to challenge it, under the Inheritance Act 1975. And a new report by the Law Commission on Friday recommends these dependents are given even greater rights to estates. The guidance states that where a person has a mutual will – where two people make a will that binds both of them when the first dies – potential heirs should be able to make a claim on the property included. Currently, family homes subject to a mutual will are excluded from estates when challenges are considered. The changes have been put forward to the Government who will now consider whether to update the law. If approved, lawyers said it could lead to larger settlements and more claims because it will increase the size of estates being considered. More than 10,000 wills were challenged in 2023, up 43pc since 2019, according to figures from the Ministry of Justice. Alison Parry, of law firm JMW, said that mutual wills can produce 'quite unfair results', especially where a survivor remarries. She told The Telegraph: 'Say one of them dies in their late 40s, and the survivor goes on to have another marriage, potentially more children … Then those extra people in the survivor's life might have a very good claim under the inheritance act. 'They wouldn't be able to get that because the property is tied up in the mutual wills agreement.' Tamasin Perkins, Partner at Charles Russell Speechlys, said: 'For too long, treating mutual wills as unavailable on a 1975 Act claim has created a loophole that has allowed some estates to side step those protections. 'We've seen first-hand how this can lead to unfair outcomes, often for children, stepchildren and financial dependants.' Samara Dutton, partner at Collyer Bristow, said: 'Mutual wills remain relatively uncommon, so the practical impact of this reform will be limited in scope but significant in effect for those it touches.' The Law Commission began looking into wills in 2016, before pausing the research in 2019 to focus on marriages, at the Government's request. It published the results of two public consultations and draft legislation on Friday. The report found that current laws are not doing enough to protect the elderly and vulnerable from financial abuse, amid a rise in so-called 'predatory marriages'. The commission also recommended that electronic wills be considered valid, that marriage should no longer invalidate a will, and that those aged over 16 should be given the right to make a will, rather than just those over 18. It also said that more informal wills should be recognised by courts, and proposed changes to rules about when disabled or mentally incapacitated people can make decisions for themselves. Amanda Collins, of law firm Moore Barlow, said: 'In practice, I've seen a sharp increase in probate disputes, particularly around the validity of a will. 'Disputes can lead to confusion, mistrust and lasting divisions between relatives. This trend points to the inadequacy of the current legal framework and the need for reform to protect families and give them the clarity and protections needed.' Hayley Robinson, of law firm Stevens & Bolton, said: 'We would flag the risk of a large increase in potential litigation. 'More flexibility around testamentary affairs can only be a good thing, but where any recommendation includes giving the Court a jurisdiction to approve formally invalid wills in 'exceptional' circumstances, it must be assumed that litigation will follow around what 'exceptional' really means.' The Ministry of Justice said it 'welcomed' the report and will give it 'detailed consideration.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
