Lamport Bassitt Solicitors - Legal News - Wealthy 'more likely to cut children from wills'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Wealthy 'more likely to cut children from wills' Wealthy people are more likely to cut their children out when they take advice on wills and inheritance tax planning, a new report suggests. Nearly 40 per cent of the UK's high net worth individuals do not trust the next generation to protect their inheritance, according to a survey carried out by Barclays Wealth. Five per cent of those with wealth levels of between £1 million and £2 million have disinherited someone or cut family members out of their wills. This proportion rises to 13 per cent among those with more than £10 million. The report also reveals that 37 per cent of wealthy individuals in the UK have had direct experience of family wealth leading to disputes. Catherine Grum from Barclays Wealth commented: "It is surprising just how many wealthy respondents report experiencing such conflict and the impact that source of wealth can have on this, with wealthier respondents more likely to have encountered such conflict." Posted by Alex McLean Related Articles: 22/5/2012 - Dementia carers urged to make sure will and Lasting Power of Attorney is in place 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows More Individual Legal Services News