The coronavirus pandemic it has affected every aspect of our lives, including day-to-day living such as work, shopping, holidays, family celebrations and many other things. Across the globe we have all had to face the life and death impact of coronavirus. The speed of events has overtaken governments, businesses, and individuals in equal measure. The coronavirus risk hangs over everyone young and old and there are many people who now must consider how their current responsibilities would be dealt with if they were no longer able to do so.
Many people only consider getting their affairs in order and making a will as they get older but it is equally imperative for younger people, particularly those that others may rely on, to clearly set out their wishes with regard to their estate and establish how and by whom their responsibilities should be managed if they cannot. Modern family life has created far more complex family units, with blended families, half and step-siblings together with longer life expectancy which can mean that dependent frail elderly relatives must also be considered. Giambrone's wills and probate team strongly urge parents to consider guardianship of their children during the course of their minority and make clear arrangements that are known to all concerned rather than making assumptions.
Ownership of real estate assets abroad is now far more commonly encountered and ensuring that there are no complications arising from the laws of succession in the country in which your property is situated is also a factor that must be addressed. Nobody would wish to leave their loved ones with a stressful legal situation at a most difficult time.
Even if you have made a will, if it was drafted some time ago your family situation may have changed; your younger relatives may have divorced and re-married or now be parents. A beneficiary may have pre-deceased you and their next of kin, perhaps a wife or husband, may have a partner with whom you are not on good terms. There are many examples of families fighting through the courts over their deceased relative's estate to the extent that the legal and other costs completely erode the inheritance which could leave your loved ones in financial difficulties. Similarly an oversight with regard to your assets in, say, Italy could result in your Italian property being handed to a remote relative under the strict Italian laws of succession.
There are a number of examples of well-known figures in the public eye where either the absence of a current will or the lack of clarity in the drafting of their will has left an appalling situation from Pavarotti, whose widow was accused of coercing him into changing his will to Michael Hutchence whose fortune appeared to evaporate in a series of trusts, controlled by others, apparently leaving nothing for his only child. The importance of ensuring that your assets and your loved ones are protected by a well-drafted rock solid will cannot be emphasized too forcefully.
Despite the impact that the coronavirus has had and still has on the ability to travel and associate with other people Giambrone's wills and probate team can assist with all aspects of your estate (both in the UK and abroad)and defining your wishes with regard to your dependent relatives via the use of technology. Our lawyers will create a watertight will which does not leave the door open for challenges from individuals related to you or otherwise to make an attempt to usurp the benefactors, your loved ones, named in your will and the terms of your will are not manipulated in a way you did not foresee.
If you would like to know more about making a will to protect both your UK assets and your foreign assets please click here
Originally published June 9, 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
