Warning – if you are hoping this is a juicy tale of battling beneficiaries or a feuding family, you may be disappointed! However if you are looking for a poorly drafted will leading to some extensive family tree investigation, then read on! This is a cautionary tale of the perils of not keeping your Will reviewed and updated. How things can go wrong even if there is no dispute. The facts are those of a real estate I am currently dealing with, but anonymised.
A recent change in the law, spotted by one of our Wills and Probate Solicitors in Today’s Wills and Probate, has outlined new compliance standards for those in the Funeral Plans sector. The move, which will see new regimes set in place by the Financial Conduct Authority, will change the way funeral planners market themselves, set out plans with customers and outlaw the use of commission.
As this area of law often sees people using legal services during an emotional time in their lives (being terminally ill or having lost a loved one for example) the importance of getting things right, and of being sensitive to the circumstances could not be higher for service providers.
A couple of weeks ago, our attention was drawn to a survey conducted by Exizent. The survey found that 23% of people die without a Will and most do not leave their affairs in order; 71% of solicitors said that at least half of their clients died without putting their affairs in order; and 95% of probate professionals rely either entirely or somewhat on information from their clients to verify assets and liabilities.
More than one billion people are active on Facebook with younger people being more likely to have several different social media accounts. Social media is a part of our lives and many of us spend hours uploading photos and chatting with friends and family. Without instructions your family will not know how you would like these accounts to be dealt with should the worst happen, and they could have problems accessing your accounts and personal photos. This could mean that precious family photos and memories end up being lost.
If you were to pass away suddenly, what would happen to your young children? Whilst this is something that no parent wishes to consider the correct preparation can spare your family a lot of time, heartache and expense.