Wills – do them right

By Paul Warren
In August 10, 2018
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Increasingly, we hear about ‘have a go’ challengers to Wills – those who challenge Wills based on a claim they believe they have to a share, or a greater share, of the estate in question.

 

A recent report told of two brothers, one of whom is now contesting his late mother’s Will as she left a larger share of her estate to his brother. There will no doubt be more to the story than meets the eye, but there does seem to be a rise in these types of claim across the board. With modern family set-ups becoming increasingly complicated and a rapidly ageing population, is this a sign of more to come?

It is an English tradition that we have the freedom to leave our estate to whomever we please. This is not a tradition that is adopted everywhere, some countries have forced heirship rulings. So when we leave our estate or assets to someone, we want that to happen unequivocally.

The courts can get involved in disputes if necessary, and the only way to prevent a successful challenge to your estate is not to attempt to fight it yourself! Not only do you risk doing it incorrectly, making the defence invalid, but you will also miss out on valuable estate planning advice, especially if you have a large and complex estate. If you do want to exclude an individual from your Will, there are multiple ways to help prevent challenges that you may not be aware of.

In short, it is a much more complex process than people believe and you should always seek out a professional to draw up your Will. You wouldn’t ask a novice to take you parachuting so don’t ask one to draw up something as important as your Will.

Redwood Financial is one of the souths leading Pensions, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of pension and financial wealth planning, we can advise on any situation. Join us at one of our Free Public Information Seminars on Wills, Trusts & Estate Planning: Book online Book Me A Place!, Call us on 01489 877 547 or Email info@redwoodfinancial.co.uk to book a FREE Initial Meeting with us to review your financial planning needs.

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