The revised Inheritance Tax (IHT) rules announced by Chancellor George Osborne during the summer’s Budget speech have appeared to cause widespread confusion across much of the public.

Following on from the recent and well publicised Ilott case, the Financial Times reports that the ruling highlights the powers at the disposal of the courts to overrule Wills.

According to a survey conducted by Remember A Charity, one in six Britons aged 60 and above have decided to include a charitable donation in their Will, the Charity Times website reports.

A landmark legal ruling has seen a daughter who was explicitly left out of her mother’s Will awarded £164,000 in inheritance on appeal.

Richard Colton, a well-known member of the Ferrari Owners Club, has left his two multimillion-pound Ferraris to the Royal National Lifeboat Institution (RNLI) in his Will. The two 1960’s cars, valued at £2 million and £6 million respectively, will be sold at auction in October to raise funds for the coastal search and rescue charity.

An article that was published on the Financial Times Advisor website earlier this month reports that the British public are not taking adequate steps to secure and protect their legacy.

An interesting article in The Telegraph recently discussed new legislation which will potentially give Britons with a European holiday home more freedom in terms of how these assets are recorded in their Will.

Another day and another inheritance scandal, it seems. The latest article featured in The Courier detailed how an unemployed man managed to hide thousands of pounds from the government in order to claim benefits illegally.

With recent research suggesting that half of the British public don’t have a Will, there is no doubt that many of us need to consider formally writing down our wishes on how our estate will be dealt with upon our death. However, it is important to remember that while a cheap DIY kit or some scribbled notes could be legally binding, a Will that isn’t professionally drafted substantially increases the chances of it causing problems after your death.