In August 2018, music fans around the world mourned the loss of an iconic figure, Aretha Franklin, often referred to as the “Queen of Soul.” However, amidst the heartfelt tributes and celebration of her remarkable career, a significant aspect of her legacy came into focus. A four-year long dispute over two handwritten Wills, found in her couch, that have only just been legally validated. Aretha Franklin’s failure to establish a comprehensive estate plan serves as a reminder of the importance of having a Will in place to protect future generations.
Minesh Thakrar, Partner in the Wills, Trusts and Probate team at Blaser Mills Law, highlights on the consequences of not having a Will in place.
Intestacy laws in the UK
When an individual dies without a Will in the UK, they are said to have died intestate. In such cases, the intestacy laws of the country determine the distribution of the deceased’s assets. These laws provide a prescribed order of inheritance, typically prioritising spouses, civil partners, and close relatives.
Distribution of assets
In the absence of a Will, the distribution of assets can follow a predetermined hierarchy, which may not necessarily align with the deceased’s wishes. Under UK intestacy rules, if a person is survived by a spouse or civil partner but no children, the entire estate generally goes to the spouse or civil partner. However, if the deceased has children, the spouse or civil partner is entitled to a statutory legacy, plus a portion of the remaining estate. The children then receive the remaining balance.
Legal challenges and delays
The absence of a Will can often lead to legal battles and delays in distributing the estate. Intestate situations may also trigger disputes and disagreements among family members, resulting in prolonged legal proceedings and potential strain on relationships. These challenges can significantly impede the efficient and timely resolution of the estate.
Inadequate provision for loved ones
Not having a Will in place can result in unintended consequences, including inadequate provision for loved ones. The testator may have had specific intentions regarding the distribution of their assets, including beneficiaries, charitable donations, or other considerations. Without a Will, their wishes are left unrecorded, and the distribution of their estate follow the standard intestacy laws. This outcome might not necessarily align with their true intentions or desires.
The importance of estate planning
Aretha Franklin’s case highlights the importance of proactive estate planning. Regardless of one’s wealth or status, having a Will in place allows individuals to ensure their assets are distributed according to their specific wishes. Estate planning enables a more orderly and efficient transfer of assets, minimising the chances of legal disputes, family conflicts, and delays in the probate process.
Working with a professional
To avoid the challenges faced by Aretha Franklin’s estate, consulting with a solicitors or estate planning specialists, is crucial. These professionals possess the necessary expertise to guide individuals through the complexities of Wills, trusts, and other legal requirements. By seeking professional assistance, individuals can ensure that their intentions are accurately documented and legally binding, reducing the risk of ambiguity or misinterpretation.
Get in touch with Blaser Mills Law
At Blaser Mills Law we work collaboratively with our clients to create a plan for the future that is tailored to their individual requirements. We know that making a Will is an important moment, so we’ll ensure you clearly understand the process and the implications of any decisions you make. If you’re ready to start considering your Will, you can contact Minesh by calling on 01494 781366 or emailing mit@blasermills.co.uk.