September 12, 2018

Separate Wills should be planned together

It is National Wills Week next week so now is the time to ensure your estate planning is in order. There is a growing trend of married or partnered couples to draft separate wills, as opposed to a joint will. Whilst this enshrines each party’s individual wishes, it may result in unintentional errors creeping into wills, leading to outcomes that the deceased had not intended. According to Jeremy Woods, Senior Consultant GTC Fiduciary Services, one of the main reasons for these errors is the entrenched assumptions that influence much of our thinking about wills and estates, together with a lack of sufficient provision within the will for outcomes which differ from these naïve suppositions. “The assumption that the younger spouse – often the woman – will die after the older one still forms the basis of many separate wills. Whilst...
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