Rachel Reeves is after your inheritance - but this 'predator' poses an even bigger threat

The Chancellor plans to slap inheritance tax (IHT) on unused pension pots from 2027, potentially raking in billions.

And she's hitting farmers and family businesses with IHT too, in a cruel move.

She may come back for more at her next Budget, amid rumours that she will curtail IHT gifting allowances.

There's plenty more she could do in her war on wealth, but incredibly, she's not the biggest danger out there.

Inheritances are a financial lifeline for millions, but many risk missing out on their legacy due to a rise in so-called "predatory marriages”.

These relationships, often between younger people and older partners, are robbing families of inheritances they believe are rightfully theirs.

Campaigners and lawyers report seeing more cases of vulnerable older adults being groomed into marriages they do not fully understand, by unscrupulous legacy hunters.

Often, children get nothing as a result.

Labour MP Fabian Hamilton, who introduced a Private Members’ Bill in 2018 to tackle the threat, said the financial impact can be huge.

Entire inheritances worth hundreds of thousands of pounds can be snatched away.

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More than 23million Britons now rely on an inheritance, of whom more than a quarter will be plunged into debt without one.

Many depend on a bequest to improve their quality of life, pay down a credit card, loan or mortgage debt, or support children.

Some will be see the prospect snatched away by a predatory partner. Many will be helpless.

Our inheritance laws are “archaic”, said Charlotte Simm, a partner at Hunters Solicitors. “The basis for many will disputes is rooted in Victorian-era laws.”

The core problem is that when someone marries, their existing will is automatically revoked. Unless they make a new one, their new spouse stands to inherit everything, leaving children and other family members with nothing.

The Law Commission’s Modernising Wills Law report, published last month, made more than 30 recommendations for England and Wales.

One of the most pressing, according to Siobhan Vegh, partner at Stowe Family Law, is to abolish the rule that marriage cancels a will. “This is a loophole that many people, including victims, simply don’t know about.”

If someone marries but doesn’t update their will, everything could legally pass to the new spouse, Vegh said. "Children and family from a previous relationship could be left with nothing.”

Abusive partners regularly coerce vulnerable people into marriage to inherit their estate, Vegh said.

But even in loving second or third marriages, confusion over inheritance rights can trigger lengthy court battles. “Any pre-existing directions to leave inheritance to children or other family members are void.”

Even divorce doesn’t reset everything, Vegh warnsed. “Wills remain valid after a marriage ends, but an ex-spouse is treated as if they’d died.”

They cannot act as an executor or inherit. “If someone still wants to leave money to their ex, they need to rewrite their will after the divorce.”

This is the only practicable solution. Anyone planning to marry must update their will, whether it’s a first marriage or a subsequent one, Vegh said. “It might not be romantic, but it’s crucial.”

More changes in this area are notoriously slow, with a 200-year gap between the original report in 1837 and today’s review. In the meantime, families remain vulnerable.

Vegh warned: “Until the law changes, people need to take proactive steps to protect their legacy."

While they're at it, they should take steps to guard against Rachel Reeves too.