The magic of money
In a Law Society article discussing a survey of over 1,000 individuals, 67% of them mistakenly assumed that all Will Writers are actually solicitors, and 82% thought that education and certification are required someone to act as a Will Writer.
How it can go wrong
In case a Will is incorrectly drafted it could actually have a devastating result upon the ones you leave behind.
I recall a recent instance where a couple wanted to leave their individual shares in the family property to their two children to attempt to guard a share of the premises from care charges in the event of the survivor needing to go into a home.
They had talked over the circumstances with their two kids, and there seemed to be an understanding that the children wouldnt push the living relative from the residence, knowning that the living parent could remain in the house for the rest of their time alive, or simply until eventually they required long term care.
The husband and wife had two children from their lengthy marital life, and the husband had a child from a earlier relationship whom he hadn’t seen since the child was born.
The husband and wife instructed a Will writing company to prepare Wills and to sever the possession of their house so they each owned a half share that could pass under the stipulations of their Wills.
The Will Writing provider drew up the Wills mentioning the beneficiaries as being a class ” my children, instead of independently naming the children despite being aware that the husband and wife would not intend the estranged child to reap some benefits.
The Will writing company also failed to recommend the customers to take into consideration protecting their interest in the house until both of them had passed away.
Sad to say, the husband passed away earliest, and as the gift of his share of the home passed to his children, this included the estranged child. The estranged child was delighted to find out that he gained from his late fathers estate, and promptly commenced a legal challenge to have the house sold so that his share might be released.
To complicate things, their son and daughter-in-law were currently under-going a divorce and the daughter-in-law attempted to make a claim against the share of the residence which had passed to their son.
The consequence of the badly drafted Wills coupled with the lack of proficiency and knowledge led to two expensive legal battles, both of which could have been avoided.
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