Page 14 - 366083 LP246219 RUYS EAST Magazine 20pp A5 (September 2022)

RUYS LEGAL MATTERS
Get The Basics Right When Drafting Your Will
People seem to think that it is a simple and easy thing to write a
will. However, writing a will and dealing with the consequences of a badly drafted one are two entirely different things.You can buy a will writing kit from many stationers for as little as £19.99, you can also buy a cheap will online and follow the guidance given with the same. You can also remove your own teeth instead of paying a dentist to do this for you!
Recently I hosted a training session on Will Writing for some staff coming into our Award Winning Wills and Probate Department. Some of these lawyers have been writing wills for years but I always think
it is a good idea to share good practice.To share examples of issues that have cropped over the years and to offer solutions to all team members.The reason I mention Award Winning is that it takes a lot of time, research and preparation to do the job properly, you do not win awards with little or no effort.The advice that we give to clients cov- ers many issues that you may not have thought about and which you would not find out about using a £19.99 Will Writing pack.
So I thought I’d share a snap shot of some of the things that we discussed.
Your Name.
It may seem obvious to you that your name is the one you use each day. However, which name? Have you changed your surname since you were born, or did one of your parents? It is not uncommon for a child to be known by a different surname if their mother cohabits with or marries but then separates from that person.What about the relatives of that person, they may have set up saving schemes, premium bonds or bought shares using that particular surname.
Have you been married more than once? If so you may have docu- ments in your maiden name, your first married name and your current surname.You may have forgotten all about the pension you had at your first job. Or the life assurance/ savings scheme you paid into before you were married. If we are made aware of all of your previous names, and we have your date of birth then it is far easier for us to track down all of your assets. Don’t forget, the person administering your estate is unlikely to know your entire investment history, and you will not be around to give further information.
What About Your Christian or Forenames?
There are many men who interchangeably change from John to Jack, women who are known as Marie when their real name is actually Margaret. Many of our Chinese clients use a Chinese name and a European name. Our Indian, Pakistani and Bangladeshi clients often change the order in which their names appear. It only takes one official to note only one forename and we could miss out on a very valuable asset.Therefore when making a will please record all of your current and former names. I will often state also known as, or formerly known as.
Don’t Forget to Include Dates of Birth.
There is the rather infamous case of Tom Jones. Many years ago a man, lets call him Aled, lived in Wales and was friendly with one of his neigh- bours,Tom Jones - not the singer. Fast forward decades and a solicitor was dealing with the estate of Aled. His will included a bequest to Tom Jones of 2 Acacia Terrace.The solicitor contacted that address and
not surprisingly there was no Tom Jones living there, further enquiries drew a blank. Of course this is one of the most common names in
by Jacqueline Emmerson
Tel: 0191 284 6989
Wales and so it took the solicitor dozens of attempts before he
was able to track down the right Tom Jones. If Tom’s date of birth
had been included in the will then this would have been a far easier process.You should include your own date of birth and that of anyone else mentioned in your will whether they are Trustees, Executors or beneficiaries.
Your Children
In this country you must leave sufficient financial provision for any of your children under the age of 18 or who are, or should be financially dependant upon you.Thus, a child of yours who would need help with university fees, or an adult child who has special financial needs because of a physical or mental incapacity. Just because you have not seen your child for years does not mean that you can exclude them from your estate. It matters not if they were born as the result of
a short relationship, even a one night stand. It matters not if your current partner is not interested in them and is of the view that only your children with this partner are of importance.We ask all of our clients if they have other children that they have not recorded in our questionnaire. If you exclude or overlook a child then be prepared for the fact that your estate is highly likely to become a contested estate. This will be very costly and very stressful for all concerned. I have seen this happen numerous times with homemade wills.
The Helpful Neighbour
Many of our clients wish to leave a bequest to a neighbour who has been very helpful to them. It is not uncommon for us to be asked to include a bequest of £5,000 or £10,000. However, imagine that when you write your will your estate is worth about £300,000 including the value of your home. Having written your will you may have spent money on holidays, cars, weddings for your children and then care home fees.At the point of your death there is £40,000 left and your neighbour is going to receive £10,000 of that. How will your children feel, especially if you have had no contact with your neighbour for years, since they moved home.Two tips, leave a percentage only to your neighbour or friend, not a fixed amount and review your will frequently to make sure that your bequests are still relevant.
If you would like a FREE REVIEW of your existing will then please do not hesitate to contact me on 0191 2846989 or enquiries@ emmersons-solicitors.co.uk
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