Budget 'will affect wills and probate'

People have been informed that wills and probate will both be impacted on by the Budget.

A number of legal experts spoke to the Financial Times and said that more people are likely to decide to make a will or change existing documents as a result of George Osborne's plans for inheritance tax changes.

Senior solicitor Carla Brown said that people now have more reasons to make a will and help charities.

In addition, wealth management expert Anna Sofat said that the alterations to inheritance tax were positive.

She said: "We expect more of this kind of reform over the coming years as the government seeks to create a more balanced economy where striving for wealth goes hand in hand with philanthropy and charitable giving."

The chancellor last week announced that those who leave at least ten per cent of their assets to charitable causes will have ten per cent knocked off their inheritance tax rate.

Published by Hannah Carr