Flint Bishop

Perils of not making a will

A Warwickshire lawyer has warned of the emotional and financial disasters that can befall families if people do not make a will or keep their existing will updated.

Sofia Tayton, an associate in the private client department of Stratford upon Avon law firm Lodders, said a recent case she had been involved in showed how families were at risk of losing significant amounts of money simply because a valid will was not in force.

"Mr A" had been happily married for many years and had a child with his wife, as well as a step-child from her previous relationship. He made a will at this stage, detailing how he wished his assets to be distributed.

However, they later divorced and he remarried, which revoked his will.  He and his new wife then bought a house with his money

Sofia Tayton said: "Sadly, Mr A died recently and it has become clear that he did not make a new will following his remarriage. I had to tell his child that because his assets were worth less than £250,000 the Intestacy Rules state that everything he owned passes to his new wife.

"Under the Rules, his child would have been entitled to a share of the assets if he had an estate worth more than £250,000, but his step-child would not.

"Both his child and his step-child are over 18 and working, so they have little chance of challenging the way the estate now has to be handled.

"They feel very upset that money which went towards the purchase of their father's new house via the sale of their childhood home now leaves the family.

"They both believe Mr A intended to make a new will, but kept putting it off.

"They are convinced that they know what he intended, but unfortunately for them the law takes no account of that.

"I acknowledge that making a will is never the most cheerful of tasks, but it can save so much heartache if it is done properly and then updated as family circumstances change."

 

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Article published by Midlands Business News on 30 October, 2009

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