Accidental Sideways Disinheritance Case Study

Mr & Mrs A.

 

– Accidental Sideways Disinheritance Case Study

Mr and Mrs A. had been married for a while, live in a detached house and also have investments with a everything together being worth £650,000. They both have wills written together (Mirror Wills) leaving everything to each other and then to their children Samantha and Paul.

Sussex Wills Signing-Documents Accidental Sideways Disinheritance Case Study

Accidental Sideways Disinheritance

Mr A died suddenly aged just 62 with Mrs A. who is a few years younger at 58 years old. After a couple of years of unhappiness Mrs A. meets another Gentleman Mr T. through some friends. After some further time Mrs A and Mr T. get married – not realising that getting married invalidates any wills that they have already made.

Living together happily for a few years after getting married Mrs T. (Nee Mrs A.) dies suddenly without realising that her will is invalid. Her estate is then subject to intestacy. Out of the £650,000 that Mr and Mrs A wanted to go to their children Samantha and Paul…

The First £250,000 automatically goes to the new husband Mr T.

50% of the remaining £400,000 also goes to the new husband Mr T.

The remaining £200,000 is split equally between Samantha and Paul – £100,000 each.

Their parents thought they would inherit £325,000 each.

This is accidental sideways disinheritance.

 

Process

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We Ensure that your property is owned as Tenants in Common not as Joint Tenants

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We create a Lifetime Property Protection Trust within your Will

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The Trust gives the surviving spouse right to remain in their home

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Not adverse for inheritance tax as Trust is counted as part of the estate of the surviving spouse

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Trust does not come into existence until the death of the first spouse - can be changed anytime

Final Result

Simple no restrictive trusts can help either prevent accidental sideways disinheritance or at the very least mitigate the outcome

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