Widow seeks to avoid £300,000 inheritance tax bill due on a gift made by her late husband because the gift was made before they were married The widow of one of the heirs to the JD Sports fortune is applying to the Court to rescind the gift of half...
Beneficiary | Somebody who benefits from a gift in a Will |
Claimant | Someone who makes a claim in Court proceedings. |
Inheritance Act | Inheritance (Provision for Family and Dependants) Act 1975. This Act enables a claimant to ask the Court to rearrange the terms of a Will or the rules of intestacy to make provision (or more provision) for them. |
Intestacy | Where somebody dies without making a Will. |
Mediation | Negotiation of a dispute involving the parties and a neutral third party mediator |
Personal Representative | An umbrella term to cover executors and administrators. |
Testator/Testatrix | Someone who makes a Will (male/female). |
Will | A legally binding document which sets out what is to happen to your affairs after you die. |