8th June 2016
The Dangers of Not Having an Appropriate Will
The recent case involving Joy Williams and her deceased partner Norman Martin’s family show how dangerous it is to jointly own property with another (such as a life partner), even if the ownership is appropriately structured as a tenancy in common, if you do not also have an appropriate Will in place.
Mr Martin and Ms Williams had met and had become a couple and had purchased a house together which was held as tenants in common between them. Mr Martin had separated from but never divorced his wife. Mr Martin died (perhaps unexpectedly young), but without having made a Will.
Under the provisions of Intestacy, his share of the tenancy in common held property passed to his separated wife on an outright basis.
Ms Williams brought a claim under the Inheritance (Provisions for Family and Dependants) Act 1975 for reasonable fi nancial provision under the heading that she and Mr Martin had lived together as man and wife for more than two years and she was fi nancially dependent on him.
The matter ended up being heard in a central London County Court where the claim brought by Ms Williams that her late partner’s half share of the house should pass to her was upheld. On at least one objective perspective this was a sad outcome for all concerned. This is because there will be a significant impact re the burden of costs upon the losing party to the claim, being the separated widow of the deceased.
All of this could have been avoided had the deceased made the appropriate type of Will. What is appropriate for some in a similar situation as Mr Martin, will, to an extent, be driven by what the person making the Will feels is most appropriate for the competing claims upon their assets on the event of their death, but there are ways to try to satisfy the competing fi nancial needs of say a cohabiting partner and adult children from a previous relationship, even if the deceased’s adult children’s entitlement may be delayed until the death of their non- surviving parent’s co-habitant.
To ensure you have an appropriate will in place, get expert legal advice on your Will from Edward Walter on ewalter@bussmurton.co.uk or 01892 502 320.
Edward Walter
Partner
Solicitor
Private Client
Office : Hello world!
01892 502 320ewalter@bussmurton.co.uk
Profile
Edward is a Partner in the Private Client Department. He started practising Private Client Law in 2000, initially as a solicitor in a well-known firm in Tonbridge and thereafter with several well-known East Sussex firms before joining Buss Murton in July 2014. Edward became a Partner in 2015.
He advises and acts on all aspects of Inheritance tax planning and Capital Gains tax planning. He also acts in Probate administration matters and post death Variations for Inheritance tax and Capital Gains tax purposes. He also regularly advises clients regarding the making of their Wills, Powers of Attorney, Lasting Powers of Attorney, Declarations of Trust with respect to client’s properties.
He undertakes the full range of advice and work with respect to Trusts and advises on associated tax implications of those actions. He also advises generally on (tax) domicile and residence issues.
He regularly advises and acts on the registration of Lasting and Enduring Powers of Attorney, the making of Statutory Wills and gift applications at the Court of Protection.
Expertise
Inheritance Tax Planning
Capital Gains Tax Planning
Wills
Probate and estate administration
Lasting Powers of Attorney
Declarations of Trust
Court of Protection
Estate Planning
Taxation advice
Succession strategies
Residence and domicile matters
Trusts
Alternative Contact:
Emily Luker
01892 502 346
eluker@bussmurton.co.uk
Beth Ahsunollah
01892 502 348
bahsunollah@bussmurton.co.uk
LinkedIn Profile
Articles
- October Budget: changes to pensions and the impact that has on those leaving 10% of their estate to charity
- The Government’s October Budget 2024: Inheritance tax, Wills and those who need to review their Wills.
- Have you got a standard form trust and require advice on what you can do as a trustee? Buss Murton Law can help.
- Care Costs and paying for them – fact amongst the hyperbole
- How can non-married, non-civil partners be impacted by the Residential Nil Rate Band Allowance?
- Mental incapacity and being a trustee
- I have a Will, so why do I need a Lasting Power of Attorney?
- Will Beneficiaries, Claimants and Disputes
- Inheritance Tax Planning: Is Inheritance Tax in the near future likely to remain a threat to the goal of passing your estate on as intact as possible to your heirs?
- Wills and Business Property Relief – Inheritance Tax danger for owner managers of SMEs