Crosswords0 min ago
Changing My Will
My current will is very simply where everything is divided between my two sons. However upsetting events that have come to ahead this weekend mean I now wish to change my will leaving 50% to my second son and the remaining 50 to be distributed between the children of my eldest son but not to be available to them until they reach at least 25
Is this possible?
Is this possible?
Answers
1 to 16 of 16
You're perfectly entitled to draw up such a will. Upon your death though, the son who's been left out of your will could try to get a court to vary its provisions under the terms of the Inheritance (Provision for Family and Dependants) Act 1975 on the grounds that your will failed to provide him with 'reasonable financial provision' :...
19:32 Sun 05th Sep 2021
You're perfectly entitled to draw up such a will. Upon your death though, the son who's been left out of your will could try to get a court to vary its provisions under the terms of the Inheritance (Provision for Family and Dependants) Act 1975 on the grounds that your will failed to provide him with 'reasonable financial provision' :
https:/
(Such an application wouldn't automatically succeed. It would be up to the court to determine whether he had any right to part of your estate).
If you'll be creating a trust to hold the money for your grandchildren until they're 25, you will need to think carefully about who your trustees should be and what, if any, access they should have to the money for the benefit of your grandchildren prior to the trust maturing. (For example, it's not unusual for money to be put into trust for minors and/or young adults but with the trustees permitted to draw upon those funds, prior to the trust maturing, to help the beneficiaries of the trust through their education).
Trusts can be tricky to get right (especially when they don't mature at the age of 18). Although I often suggest that people don't need to employ a solicitor to draw up their wills, this is one occasion where I feel that it would be wisest to seek professional help.
https:/
(Such an application wouldn't automatically succeed. It would be up to the court to determine whether he had any right to part of your estate).
If you'll be creating a trust to hold the money for your grandchildren until they're 25, you will need to think carefully about who your trustees should be and what, if any, access they should have to the money for the benefit of your grandchildren prior to the trust maturing. (For example, it's not unusual for money to be put into trust for minors and/or young adults but with the trustees permitted to draw upon those funds, prior to the trust maturing, to help the beneficiaries of the trust through their education).
Trusts can be tricky to get right (especially when they don't mature at the age of 18). Although I often suggest that people don't need to employ a solicitor to draw up their wills, this is one occasion where I feel that it would be wisest to seek professional help.
PP - my son has done something unforgivable
I haven’t spoken to him for two months now even though I had to sit next to him at a family event recently. Here is not the place to discuss it but I can only say his actions have had consequences on other people and have left me heartbroken- not only by his actions but that he is capable of taking such actions
I haven’t spoken to him for two months now even though I had to sit next to him at a family event recently. Here is not the place to discuss it but I can only say his actions have had consequences on other people and have left me heartbroken- not only by his actions but that he is capable of taking such actions
Any new will along the lines you suggest should withstand any attempt to overturn it as long as you have not been supporting your 'wicked' son financially recently.
It's also important that none of your current assets are overseas. If you, say, own a little apartment in the South of France, French law applies to it and, in principle, it isn't possible to disinherit a child's share of that asset. Much the same applies across the Continent. There is, however a new-ish law which allows a foreigner to claim exemption from local
It's also important that none of your current assets are overseas. If you, say, own a little apartment in the South of France, French law applies to it and, in principle, it isn't possible to disinherit a child's share of that asset. Much the same applies across the Continent. There is, however a new-ish law which allows a foreigner to claim exemption from local
Off-topic:
France is a wonderful country and I enjoyed 27 years living there. My wife & I nevertheless opted to sell-up and move to Spain, which is also great. I guess we felt that 27 years entitled us to the tee-shirt.
We decided to remain close enough for shopping if we wanted something special. What we didn't know was that large numbers of French expats thought like us and so we can usually get by just on French.
France is a wonderful country and I enjoyed 27 years living there. My wife & I nevertheless opted to sell-up and move to Spain, which is also great. I guess we felt that 27 years entitled us to the tee-shirt.
We decided to remain close enough for shopping if we wanted something special. What we didn't know was that large numbers of French expats thought like us and so we can usually get by just on French.
Your solicitor would probably advise that you state in your Will that your son, John Doe, should not benefit in any way from your Estate.
This would make it more difficult for him to make a claim against your Estate for 'failure to make reasonable financial provision' on the grounds that his name has been omitted from your Will by mistake or negligence on the part of the solicitor. It would show that you have given proper consideration to your decision to disinherit him.
This would make it more difficult for him to make a claim against your Estate for 'failure to make reasonable financial provision' on the grounds that his name has been omitted from your Will by mistake or negligence on the part of the solicitor. It would show that you have given proper consideration to your decision to disinherit him.
Loorrd Snooty LJ said " wills trusts have had their day"
I would agree.
Foreign assets ? you need advice - the third part thing ( family have to left a third) may be hard to get around. This is 2012 - Bernard Bootiful Matthews was UNABLE to evade it
https:/
One of my neighbours has just died intestate
they are trying to do everything as N-O-K
instead of demaning action as executors...
Readers - make sure you have a will
I would agree.
Foreign assets ? you need advice - the third part thing ( family have to left a third) may be hard to get around. This is 2012 - Bernard Bootiful Matthews was UNABLE to evade it
https:/
One of my neighbours has just died intestate
they are trying to do everything as N-O-K
instead of demaning action as executors...
Readers - make sure you have a will
1 to 16 of 16
Latest Posts
Should I Send This Card Or Not?
ChatterBank9 mins ago
Quizzes & Puzzles10 mins ago
Quizzes & Puzzles11 mins ago
ChatterBank14 mins ago
ChatterBank17 mins ago
