A recent survey in February 2019 in the United Kingdom uncovered some reasons why there appears to have been a generational change to children considering disputing their entitlements under their parent’s Will, with up to 1 in 4 people saying they would challenge their parent’s Will if they were left out or not properly provided for in the Will.
Our research and experience indicates that some of the reasons this change may have occurred and in such a high number, particularly in relation to Family Provision Claims are:
A DIY Will is often not worth the paper it is written on. To properly draft your Will requires a lawyer with the appropriate experience to take into account all of your personal circumstances, your wishes, your family situation, your possible estate, your superannuation and the law so you can be properly advised on your unique succession plan.
As Michael Morris says in his article “Succession Planning For Family Owned Agribusiness”, every succession plan is different because every family and business is different.
Open and honest discussions within the family, coupled with tailored advice from your professional advisors working together, is essential. The same advice applies to all succession planning and we at Hillhouse have the knowledge and experience to ensure your wishes are carried out as best the law.
More often than not good planning and good advice will minimise and even negate a child or children disputing your Will.
The information in this blog is intended only to provide a general overview and has not been prepared with a view to any particular situation or set of circumstances. It is not intended to be comprehensive nor does it constitute legal advice. While we attempt to ensure the information is current and accurate we do not guarantee its currency and accuracy. You should seek legal or other professional advice before acting or relying on any of the information in this blog as it may not be appropriate for your individual circumstances.