Property Issues - Case Study
Solicitors took instructions from Mr A who lived with his sister Miss B. He bequeathed his "share" of the house to his niece Miss Z, subject to a life interest Miss B. Mr A then died.
The solicitor didn't check how the property was owned. He had assumed it was as tenants in common but it was in fact as beneficial joint tenants, so the house passed to the sister by the right of succession. Miss Z sued the solicitors involved and won.
Inheritance Issues - Case Study
Mr and Mrs A made basic wills leaving everything to each other and failing that, to their two sons Jim and John. Unexpectedly, they had another child named Joan and did not amend their wills. Both parents were killed in a road accident and the estate went to Jim and John. Had the original will been drafted to divide the residuary estate between "such of my children as shall survive me and if more than one in equal shares" then Joan would have benefited.
As it turned out Jim and John did "the right thing" but had they not done so, then Joan would have had to fight through the Court to claim what was rightfully hers.
Fact - It now costs more to keep your granny in an average care home for a year than it does to educate a child at Eton!
Shop around and don't forget to take care of your will.
- Compare the costs of a number of will writing services before choosing.
- Don't assume that if you use a solicitor or will writer that you will get an expert, so always ask about their qualifications.
- Check whether the will writing business you plan to use is regulated.
- Always approach relatives or friends who you are thinking of appointing as an executor to see if they are willing to take on the responsibility.
- If you are named in someone else's will as an executor you may have to apply for probate to wind up the estate. The Probate Service can issue this.
If you have any question please contact Malcolm Ashton at Eleven Wills on 01706 824526 or visit www.thebestof.co.uk/local/bury/business-guide/feature/eleven-xi/59633
