Everyone should have a Will.
No one should ever use the reason of not having money to avoid drawing up a Will – it is about property and possessions not just money. Below is a list of well known personalities who amassed significant sums before dying (many prematurely) having not made a Will. There were significant complications that are left behind for the lawyers to sort out and the families to fall out. It need never be that way…
Died in 1970 leaving his entire estate to his father, Al. Al died in 2001 leaving the £51 million estate to his adopted daughter, prompting a law suit by his biological son.
Died without a spouse, children or surviving parents. So his six siblings got an equal split of $50 million. 5 half-siblings are waiting in the wings to commence a messy court room battle.
Taken from us ridiculously early at just 56. No Will so the rules of intestacy apply. Roulette anyone?
Busy Bob had 9 children, but only 3 by his wife. During Marley’s 8 month battle with cancer in 1981 no Will was made despite having c$30 million. Needless to say after his death the law suits started to roll in.
Amy had amassed over £4 million by the time she died aged 27. Her parents inherited her estate, there being no Will. Within two years, less than 10% of this sum was left and her parents had to seek a £600k loan to cover the cost of managing her financial affairs.
Jill had no Will when she was murdered and her estate passed to her Father. The inheritance tax charge was £250,000. She was due to marry later that year (1991), and had the same event occurred then, the bill would have been only £40,000.
It can be quick and need not be expensive to make a Will. Compared to the untangling that will need to be done if you die without one, it’s as close to a ‘no-brainer’ as you can get. Contact us if you live in the Fleet and Farnborough areas. We are experienced at making the whole process a trouble-free as possible for you.