Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 18 MAY 2022

How To Avoid A Boom In Succession Disputes

Withers LLP
Withers LLP
Contributor
Withers LLP

Withers LLP

Withers is an international law firm focused on the personal, business and philanthropic interests...

View firm profile
Explore more from Withers LLP

Over the next few decades the Baby Boomers, the wealthiest generation that has ever lived, are going to die.

United KingdomLitigation, Mediation & Arbitration
Dawn Goodman
Dawn Goodman
Steven Kempster
Steven Kempster
Author LinkedIn connections

Over the next few decades the Baby Boomers, the wealthiest generation that has ever lived, are going to die.

In doing so, they will pass on assets worth an estimated £5.5 trillion in the UK alone1. Yet at least one study has found that many families are ill-prepared for the transfer of wealth. When surveyed, a significant number of parents in England did not intend to treat their children equally. When asked whether they had discussed this, many of the older generation said yes - however a higher percentage of their children said that they had not been spoken to.

From our experience worldwide, that pattern is being replicated globally. And it is highly likely to cause issues when the younger generation does not inherit as they had expected.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Game Developer And Publisher Battle Over Step In Rights

A High Court ruling examines a contentious dispute between a video game developer and publisher over milestone-based funding and "step in" rights for the first-person shooter Six Days in Fallujah. With over $50 million in development costs at stake and allegations of conspiracy to acquire proprietary source code, the court declined to grant either party interim control of the game's development, leaving both sides without the "keys to the kingdom" pending a full trial.
United KingdomLitigation, Mediation & Arbitration
Lewis Silkin
Lewis Silkin
Article

Meta's $18 Billion Settlement: Reckoning Or Managed Exit?

Meta has agreed to pay up to $18 billion over 10 years to settle claims by 52 US state and territory attorneys general in the largest state consumer-protection settlement in American history outside tobacco. The settlement imposes binding child-safety obligations including time limits and age assurance, but leaves the core algorithmic feed unchanged and raises questions about whether this represents genuine accountability or a commercially managed outcome.
United KingdomLitigation, Mediation & Arbitration
Mishcon de Reya LLP
Mishcon de Reya LLP
Article

LNG Charterparty Hire Formula: Meaning Of JKM–TTF Pricing Spread

The Commercial Court ruled on a USD 29 million dispute over an LNG carrier charterparty's index-linked pricing formula, determining whether the "JKM-TTF spread" operated bidirectionally or only when JKM exceeded TTF. The decision examines how unprecedented market conditions—where European gas prices surged above Asian prices due to the Ukraine war—tested the contractual formula's application and whether rectification could remedy an alleged drafting oversight.
European UnionLitigation, Mediation & Arbitration
CMS Wistrand
CMS Wistrand
Video

One-Punch Manslaughter – When A Single Blow Kills (Video)

A split-second decision can change lives forever. In one-punch manslaughter cases, a single impulsive blow, perhaps thrown in anger, fear or misguided bravado, leads to a tragic death. These ‘death by a single punch’ incidents are more common in the UK than many realise. Dozens of families every year are left devastated, with one family grieving an unimaginable loss, and another family shocked and fearful as their loved one faces a homicide investigation for an outcome no one intended. It’s a tragic reality, one moment of anger, one fatal assault involving a single blow, and two lives (and families) ruined.
United KingdomLitigation, Mediation & Arbitration
Olliers Solicitors
Olliers Solicitors
Article

Supreme Court Restricts Contractor’s Right To Terminate For Repeated Employer Defaults

The Supreme Court examined whether a contractor could terminate a construction contract following two late payments by the employer, even though the first payment was made within the contractual cure period. The case centered on interpreting standard JCT contract termination provisions and whether a 'repeated default' clause required an earlier accrued right to terminate.
United KingdomLitigation, Mediation & Arbitration
RPC
RPC
Article

A 5% Wealth Tax? Preparing Clients For California's Billionaire Tax Act

California's proposed Billionaire Tax Act would impose a onetime 5% excise tax on individuals and trusts with assets exceeding $1 billion, creating unprecedented challenges for estate planners. The retroactive application and anti-abuse provisions raise critical questions about the treatment of grantor trusts, non-grantor trusts, and beneficiary interests that deviate significantly from established federal wealth transfer tax principles.
United StatesTax
Withers LLP
Withers LLP
Article

Navigating Florida’s New Trust, Probate And Series LLC Statutes

Florida has enacted significant statutory changes affecting trust administration, probate procedures, and business entity formation. These reforms introduce streamlined nonjudicial processes for trustee discharge, expand access to simplified probate administration, and establish a new framework for protected series LLCs that offers enhanced asset protection and operational flexibility for estate planners and business owners.
United StatesWealth Management
Withers LLP
Withers LLP
Article

Subscription Contracts: What Businesses Need To Know About The New UK Cancel Culture

The UK government has accelerated the implementation of new subscription contract rules under the Digital Markets, Competition and Consumers Act 2024, moving the enforcement date to January 2027. These regulations introduce stricter transparency requirements at sign-up, mandatory cooling-off periods including a new renewal cooling-off window, and simplified cancellation processes designed to eliminate 'subscription traps' that lock consumers into unwanted recurring payments.
United KingdomConsumer Protection
Withers LLP
Withers LLP
Article

Flexible Working In 2027: The UK Government Reveals Further Details Of Upcoming Reforms

The UK government has published its response to consultation on flexible working reforms, introducing a new reasonableness test for employers refusing requests from 2027. The reforms will require employers to meet with employees before rejecting applications and explain why refusal is reasonable, while consultation data reveals significant gaps between employer and employee perceptions of the current system.
United KingdomEmployment and HR
Withers LLP
Withers LLP
Article

Over Two Thirds Of Charities Report A Rising Demand For Services Over The Past Year

The Charities Aid Foundation's World Giving Report reveals that two-thirds of charities are experiencing increased demand for services while facing significant funding challenges. With restricted funding streams and depleting reserves, many organizations struggle to maintain operations, raising critical questions about the sector's long-term sustainability and the need for more flexible funding approaches.
United KingdomCorporate/Commercial Law
Withers LLP
Withers LLP
Article

What The UK Government's Extension Of The Right To Bereavement Leave Will Mean For Employers

The UK government has announced significant changes to bereavement leave entitlements, expanding coverage beyond bereaved parents to include employees who lose spouses, partners, parents, adult children, and siblings. The new statutory framework, set to take effect in April 2027, will provide up to two weeks of unpaid leave and extend parental bereavement leave to cover all types of pregnancy loss before 24 weeks.
United KingdomEmployment and HR
Withers LLP
Withers LLP