Where there’s a Will?

In the first part of our financial planning process with clients we chat through with them what legacy they’d like to leave and what they have done about it. The most basic thing they can do is have in place a properly executed, professionally prepared and up to date Will.

Despite this, the majority of clients either have no Will or at the very best one that was drawn up years ago. In the absolute worst case scenario they bought a DIY kit from somewhere like WH Smith.

A recent article from those legal eagles at Wedlake Bell highlights what can go wrong if your Will is not properly executed. If you want to read the full article please click here.

The bottom line is that a husband and wife had three sons – one of whom was adopted. They wanted to leave their estate to the adopted son and nothing to the two others. When they died it was noticed that the husband had signed the wife’s Will and vice versa. The two sons who were due nothing said the Wills were invalid while the adopted son disagreed. At the end of the day the Court of Appeal agreed with the two sons who inherited everything.

The upshot is that the son that the parents wanted to benefit from their estate walked away with – nothing.

If you haven’t got one or your Will isn’t up to date (or if you’ve done a DIY Will) then you really need to take action. Don’t assume for one minute that your money will end up where you want it to.

Steve Clark

The preparation of Wills is not regulated by the Financial Services Authority. 44 Financial Ltd work with a variety of Will writers and solicitors to provide our clients with a professional service who can help you.

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