Spear’s Magazine
By Suzanne Elliott, July 21st, 2025
Bringing wills into the 21st century: will major inheritance law reform soothe or spark legal battles?
The Law Commission’s landmark report could shake up inheritance laws in England and Wales, granting stepfamilies, divorced partners and second spouses greater rights to challenge wills. It brings greater flexibility – but there are risks…
In a world where wealth is growing, diversifying and transferring faster than ever, estate planning for high-net-worths must evolve to safeguard wealth and legacy, top estate lawyers tell Spear’s.
Wills law remains firmly in the past, with Victorian-era legislation still dictating estate planning, meaning even the most well-planned estates can be subject to disputes.
Recent Law Commission recommendations seek to overhaul what some legal minds believe is archaic wills law to bring clarity, fairness and modernity, ensuring it ‘reflects the realities of today’s society’.
The yet-to-be adopted proposals come at a time of an unprecedented intergenerational transfer of wealth. In the UK alone, an estimated £1.2 trillion will pass from baby boomers to younger generations over the next decade. The huge sums of money being passed down through generations make early estate planning increasingly vital, particularly for families with complex assets, cross-border footprints or non-traditional family structures who may be more vulnerable to disputes.
Suzanne Elliott, Digital Editor, Spear’s Magazine
