Ashley posed
the question, why is this?
There are a
number of contributory factors not least of which is that the value of
most people’s estates have risen dramatically in the last few years
primarily as a result of house price inflation and the availability
inexpensive life insurance. Whilst the rise in house prices may have
temporarily reversed, for most people their house remains their
principal asset. With house prices as they are the value of an
average estate in SE England exceeds £300,000. Aggrieved family and
friends probably think this is an amount worth fighting for.
Secondly, if
they left one, the Will may have been made without proper
advice. Proper advice would take into account the circumstances,
family, dependents and most importantly the wishes at the time of making
the Will and over the anticipated lifetime of the deceased. Wills
should be reviewed every five years but should be written to stand the
test of time in case they are not. Unfortunately do-it-yourself
Wills and those made on the Internet, for example, do not include
advice. They operate on the principle that one size fits
all. It certainly does not! Wills are individual and
personal. These types of Wills even if properly executed can
provide opportunities for challenge in the Courts.
If there is a
Will it is important that the people who are appointed as Executors and
as Trustees are able to discharge their duties without being subject to
the undue influence of potential beneficiaries and those who may seek to
challenge the Will. If there is potential for imbalance, for
example where two sides of a family are not equally represented, then a
professional body such as a Trust Corporation should be appointed in the
Will to act as necessary.
If there is no
Will then the rules of intestacy apply. These rules, on the face of
it, provide the least scope for challenge. However family members
may argue that the deceased promised them gifts from the estate in
payment for services provided in life. Again it is important that
those family members appointed to administer the estate are
dispassionate, objective and appoint suitable professionals to act on
their behalf and to ensure fair play.
No matter what
the circumstances if you are faced with a family dispute over the estate
of someone who has died recently talk to Simply Wills.