It’s my Will and I can do what I like

Unfortunately, sometimes family situations are complicated and there may be times when the person making a Will wants to exclude family members, perhaps because they are estranged or because of an argument or because they disapprove of a person’s lifestyle choice.

Occasionally, when making a Will, people may also want to give family members unequal shares of their assets because one of them is more successful or wealthier than the other. In my experience, a client will often state that they have discussed this with the parties involved and ‘everyone is in agreement’.  

However, a person’s financial situation can change over time, perhaps due to economic uncertainty or an unforeseen health implication and what may have once been deemed fair in theory can lead to a family upset and complications when the actual division of a deceased’s assets is considered.

In 2017, rulings in favour of disinherited children who brought claims in court, under the Inheritance (Provision for Family and Dependants) Act 1975 for a reasonable provision out of a parent’s estate led to a rise in Will disputes.  

Each case is considered on its own merits. There are also no guarantees that such a claim would be successful but defending a claim can be both costly and time consuming.  The assets in your estate can be used to defend that claim which can mean that even if the claim is unsuccessful, the amount of assets in your estate could be depleted by the costs involved in defending it. 

Taking professional advice on the division of your assets after your death can be beneficial and help you with difficult choices by suggesting alternative options, such as leaving a share of your assets into a Trust or by giving someone a right of residence in a property under the terms of your Will.

Taking professional advice on the division of your assets after your death can be beneficial (Image: Jackson Lees)

Put simply, assets in a Trust are held by the Trustees, who can invest the assets for the benefit of one or more beneficiaries, who have no direct access to the assets. Trustees can, at their discretion pay money out of the trust to one or more of the beneficiaries for anything they feel is appropriate. 

Talking through alternative options where situations are complex may mean your estate is saved expense and complications in the future.

If you would like to talk to one of our empathetic specialist advisers, you can call us free on 0808 296 3258 (also free to call from mobiles) or email: enquiry@jacksonlees.co.uk

 Alternatively, visit our website:  www.jacksonlees.co.uk

A flexible service

At Jackson Lees we understand that one of the most important things that we can do is plan our own futures to ensure that we protect the futures of those we love after we are gone. We will provide you with expert, professional and sensitive legal advice, helping you deal with a wide range of matters including; writing your Will, dealing with Probate, Inheritance Tax Planning, setting up Trusts and their administration, and making a Lasting Power of Attorney.

What Jackson Lees can do for you…

We offer free half-hour appointments for anyone who wishes to find out more about our services

Four local offices to choose from:

Hoylake 0151 909 3204,

Heswall 0151 909 3201,

Birkenhead 0151 909 3193,

Liverpool 0151 909 3147

• We also offer assistance if you are in a dispute regarding inheritance
• We offer free safe storage of any Will
• We can register your Will on Certainty’s national Wills database

Let Jackson Lees make things a little easier for you and your family.  Contact our Wills, Trusts & Probate team to book an appointment or to chat through your requirements.  Call us free from either a mobile or landline on 0808 302 3464.