Many people ask why they should seek professional help to write their Will.
Of course, you can draft your own Will and hope that it all turns out ok after you die. But as a recent case has highlighted Will drafting can be complicated and open to interpretation and leave you open to future litigation after your death.
A recent case concerned the interpretation of Mrs Arkell`s Will. She left an estate of over £3 million before Inheritance Tax. The case was brought by Mr Beasant and a solicitor. Mr Beasant had been left an apartment worth £240,000 and shares worth £218,256 and other personal items worth £1,390 free of tax. She had also left £45,000 to her other friends and relatives but she left everything else in her Will to several charities to be divided equally between them.
The dispute concerned the interpretation of a clause in her Will “I give the nil rate band (currently £325,000) to my trustees on trust for my friend Mr John Beasant “.
Mr Beasant wanted a further £325,000 on top of what he had been bequeathed but the court disagreed and found in favour of the Charities.
The court held the amount he had been left had already exceeded the nil rate sum and that he wasn`t entitled to anymore.
We can see from this case and others how important it is to provide clear terms in your Will which set out clearly your wishes and are unambiguous to avoid disputes after you die.
You must be careful to ensure you leave clear and concise instructions which comply with all the legal requirements for your Will to be valid and it must be executed in the correct manner.
It is easy to fall foul of anyone of the above legal requirements when drafting your own Will which is why we provide the professional legal assistance you require to ensure your Will is expertly drafted and executed. Giving you reassurance and peace of mind, reducing the risk of costly disputes and possible litigation in the future.