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RIGHT UP YOUR STREET INDEX OLEFGAADLVMERATITSERS
It Can Be Very Expensive if You Do Not Use A Solicitor.
At Emmersons Solicitors we take part in numerous free wills events for charities.We have to limit the number of clients coming in to see us using these schemes otherwise we would be inundated. It is actually a lot of work for our staff but we feel that we ought to take part
in order to give something back to society.The charities hope that clients will leave them some money in their will or make a donation during their lifetime.We obviously have to make it clear to clients that they are under no obligation to do so.
The general idea is that we only draft simple wills and anything that is more complicated a client will pay for. Of course we take our clients through a detailed fact find so that we can advise them as to the type of will they require. It may be necessary to re-arrange the way they own their home, which is actually a conveyancing procedure. It is very cost effective and a fraction of the cost of usual conveyancing matters. Or we may need to include a trust within the will.There are many variations on the theme.
Some clients can see the value of what we are able to offer them. Others simply do not.
“So Mr Smith that will cost you £250.00 but it means that your partner and the children from your previous relationship will be protected.”
“But my will is simple, why do I have to pay that. No, I’m not paying.”
And with that off Mr Smith went, back home to his girlfriend Erin saying that it’s ridiculous. She agreed with him. Fast forward two years and Danny Smith has a heart attack and dies. He’s only 39.
We deal with a lot of sudden deaths in this age group. I lost five friends aged 39-44 when I was 38. I remember being shocked but my vicar told me that this is the first peak in deaths, the next is late fifties to early sixties. Frightening stuff!
Anyway, back to Danny. Erin rang me and advised me that he had died. She was very distressed; the mother of his children had been on the phone to say that the house would have to be sold as the children were Danny’s next of kin. She also wanted the children to have Danny’s savings and pension. Did Danny make a will with you she asked. No I reminded her he didn’t want to pay, he thought it was too expensive. She started to cry.
I established that the home in which she and Danny lived was still in his sole name. He also had £70,000 in savings, all in accounts in his sole name. Danny also had an old works pension but as he had been self employed for quite a few years he hadn’t paid anything further into any pension. Searches of the National Will Register and of many solicitors in the area drew a blank.There was no will.
So I thought I would use the Inheritance (Provision for Family and Dependants) Act. In this case the couple had to have lived together for at least two years and Erin had to be able to prove a financial need. The starting point in a case like this is to try to negotiate with the other branch of the family. Unfortunately Danny had left the mother of his children,Amy, when he had started to have an affair with Erin. Amy was therefore in no mood to negotiate.
by Jacqueline Emmerson
Tel: 0191 284 6989
Danny’s pension provider agreed to split the benefits under the pension between the children and Erin.The children would receive a maintenance payment until they finished full time education. But Erin was still about to be made homeless. She either had to walk away or fight through the courts.
How much do you think it costs to fight a case like this in the court system? The answer is about £10,000. £10,000 because Danny wanted to save £250.00. And how long do you think it takes? At the moment about 18 months to 2 years.That is a lot of uncertainty and stress to deal with.Would Erin even be guaranteed a win? There is no way a judge would give her all of the house if the equity was far higher than the £70,000 in savings, which of course it was.
So now Erin was left to find thousands of pounds in order to fight for her home. She eventually received some money but not nearly enough to allow her to stay in her home.What a mess. I can tell you that the competing rights of children from a former relationship and current co-habitees or spouses means that any will drafted to cover the situation will not be simple. It requires planning, the correct use of pensions, life assurance policies, ownership of a house and the arrangement of investments.As there is clearly no escape from our eventual death why would you want to put your partner and children through an expensive, stressful fight?
If you don’t know how much to leave to your partner or your children then why not book an appointment so that we can discuss options with you.The appointment is free of charge, we do however charge you for drafting a will if one is necessary.We also offer a FREE review of your existing will. Many of our clients benefit from regular reviews of their wills as their circumstances change. In many case no change
is made and there is no fee to pay.We find that this offers our clients peace of mind.
I know you will say you are busy, but as someone who took far too long to write my own will I can vouch for the fact that it was a huge weight off my mind when I got round to it.You don’t even have to leave your office, we can offer you a Teams or telephone appointment if you wish.
If you would like any help to avoid a situation like Erin’s then please don’t hesitate to contact me on 0191 2846989 or enquiries@emmersons-solicitors.co.uk
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