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Who will inherit your estate?

One major decision that we will all face at some time in our lives is the question of who will inherit our assets.

"The whole matter was dealt with in a very professional manner and in a friendly understanding way. Many thanks."

For many people there will be an obvious answer. However even in those circumstances it may be that in the absence of a Will the person who inherits your estate is not the person that you would have wanted to inherit. This can particularly arise in circumstances where there have been second or subsequent marriages or relationships, children from a first marriage or children or other relatives who are no longer in contact with you.

The absence of properly documented legal arrangements can mean that those people can (and indeed will) benefit from your estate regardless of your wishes. The only way to guarantee that your wishes will be properly implemented is to ensure that a proper legally binding and valid Will is in place.

In some cases it may be that you would want the person to benefit to be someone outside of your family or outside your more direct relationships. Again this can be fully documented only by the use of a professionally drawn Will. We all hear nowadays about Wills being challenged through the Courts where there is a beneficiary who is disappointed by the outcome of the way in which the estate is distributed. It may be for example that a child has been omitted from the Will deliberately as a consequence of a breakdown in the relationship or for some other reason. By taking our experienced and professional guidance we will also be able to show you how we can help to reduce the likelihood of any claims being made or any successful claims being made against your estate in those circumstances.

Your Will is the opportunity for you to show specifically how you would want your estate to be divided and distributed in the future and an opportunity is missed if no Will is made.

Whilst many families enjoy strong relationships there can be circumstances in which our children or those exerting an influence over them can make it undesirable to leave substantial gifts to them. Many people have a fear about assets drifting out of the estate in the event for example of a son or daughter to whom they have left assets becoming divorced, insolvent or spending the funds. In all of those circumstances assets move away from the bloodline of the family perhaps at the expense of grandchildren who would otherwise have benefited.

We can build mechanisms into a Will to ensure that the bloodline is respected and that control and assets remain within the family rather than benefitting outside of the natural bloodline.

To see how we can help in making this big decision please get in touch with us for one our experts to talk through the process with you.

Who do I Contact?

Gemma Hardwick, Legal Executive, Private Client Services Gemma Hardwick

Legal Executive, Private Client Services

Tel: 01623 626141
Email: gemmah@shacklocks.co.uk

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Thomas Slack, Solicitor, Private Client Services Thomas Slack

Solicitor, Private Client Services

Tel: 01623 626141
Email: thomass@shacklocks.co.uk

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Kerry Stuart, Solicitor, Private Client Services & Property Kerry Stuart

Solicitor, Private Client Services & Property

Tel: 01773 743513
Email: kerrys@shacklocks.co.uk

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Claire Williamson, Solicitor, Private Client Services Claire Williamson

Solicitor, Private Client Services

Tel: 01332 559281
Email: clairew@shacklocks.co.uk

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Cassandra Worton, Partner, Private Client Services Cassandra Worton

Partner, Private Client Services

Tel: 01773 822333
Email: cassandraw@shacklocks.co.uk

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