BBC 2's new series has businessman Gerry Robinson looking at the dilemmas that many couples face in coming up with Wills that reflect their wishes and at the same time "do the right thing" to provide for their families.
One week's episode looked at a couple who could not agree on the shares of their estates to leave their daughters and a couple who where seeking to right an old wrong by sharing some of their estate with a branch of the family who had been treated less fairly on an earlier death.
What were the important points that came out in the programme?
First of all over 70% of people die without a valid Will. This can result in unmarried partners not being provided for on death and perhaps ending up without a legal interest in the family home. Children may inherit at too young an age and may not be mature enough to deal with the sums of money they inherit.
No one likes to contemplate their own mortality but it is part of our responsibility to our loved ones that we do think about how we can best provide for them after our death and have in place a well written and appropriate Will. This may involve sharing out the estate between a number of beneficiaries, setting up trusts to look after children or other vulnerable family members or leaving the estate on trust for your spouse with provision on his or her death for your children from an earlier marriage or relationship.
The programme showed the importance of talking to your family about the provisions of your Will and getting their input on how your proposed Will affects them and their relationships with others who may or may not benefit under the Will. The families in the programme did talk to their children and other close relatives with very surprising results - some discussions confirmed their thoughts as to the provisions of the Will but some discussions with the wider family lead to the couple thinking again. Both families found speaking to their families very helpful in reaching the final choices for the provisions to include in their Wills.
According to one of the people featured on the programme this was "the best thing that ever happened" and she felt now that her "house has been put in order".
It is not always possible to talk to family about these matters. Whether or not you are able to you do need to think how your Will affects the loved ones you leave behind. At rhw we have many years of experience in helping clients think through the options available to them to make suitable provision for their families in their Wills. We are happy to talk to you about all the family issues involved and are able to make suggestions to help you achieve your objectives.
If you would like us to prepare a will for you, please complete our will questionnaire online.
Our team at rhw consist of:-
Clive Barnard Partner 01483 540539
Caroline Sturge Solicitor 01483 540554