A finale of neat, happy endings until the last loose end is replaced by a violent upset. Real life can also include the unexpected, though rarely so dramatically. John was naive and failed to plan, just assuming everything would be fine while he was gone.
Now that he has a fiancée, John needs to plan his Will. We’ve already covered the importance of executors and of guardians and of a pre-nuptial. The key now is the structure and, for John, the use of a popular Will Trust.
John needs to balance providing for a child from a previous relationship with providing for a new wife. A life interest trust enables him to do just that. His widow would have the use of the assets, but on her death there would be a guaranteed inheritance for Augusta, not just the future children.
However kind Margaret may be, it’s asking a bit much to expect her voluntarily to deprive her own children in favour of someone else’s - especially once John is no longer there as the link. So he should consider a life interest trust Will - and reduce the amount of unexpected surprises!
If you would like more information on Wills and Trusts please read our guidance notes on Writing a Will
or contact Carolyn Bagley on 01908 247015 or click here
to email Carolyn. Alternatively you can also contact one of Carolyn's colleagues below.
Francesca Rossi on 020 7400 5037 or click here
to email Francesca.
Rachel Hawkins on 01604 463165 or click here
to email Rachel.
Elizabeth Herbert on 01223 447495 or click here
to email Elizabeth.