Leaving People Out
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Want to make a start on your will?
Making a Will is not about wealth it is about making sure that what you want to happen to your estate does happen. It gives you the opportunity to specify such things as who will administer your estate, who will care for your children and who will receive specific items of your property.
It is quite possible that you may wish to leave somebody out of your will. For instance, you may never have got on with your eldest son or you intensely dislike the man your daughter married and don’t wish your money to go in his direction.
There are implications in doing this and it requires careful thought.
English law actually grants the testator a lot of freedom of disposition. In countries where the civil law, rather than common law, forms the basis of the legal system, rules of forced heirship frequently apply.
Briefly, this means that the law says that a certain portion of your estate must go to your spouse, another to your children and a small portion may be left as you wish.In England you may, if you choose, leave the entire estate to a close friend or to your dog. However, bear in mind that the disappointed beneficiaries will most likely seek to thwart your expressed intentions. There are two ways in which they may go about this.
These are a direct challenge to the will itself and a claim to a share of the estate under The Inheritance (Provision for Family and Dependants) Act 2005.
More Reading – Leaving People Out – Challenges To The Will or Leaving People Out – Example
- external sites: HM Revenue & Customs: Rates and Allowances – Inheritance Tax