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.
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.
We Ensure that your property is owned as Tenants in Common not as Joint Tenants
We create a Lifetime Property Protection Trust within your Will
The Trust gives the surviving spouse right to remain in their home
Not adverse for inheritance tax as Trust is counted as part of the estate of the surviving spouse
Trust does not come into existence until the death of the first spouse - can be changed anytime
Simple no restrictive trusts can help either prevent accidental sideways disinheritance or at the very least mitigate the outcome
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