General Chat

You have to be very careful when making a will which contains specific bequests to ensure that you review it regularly to ensure it is still relevant to your wishes.

Consider the following:-

90% of wealth is in your house and it's contents. You have three children but No's one and three are deadbeats so you leave your house and contents to No two, with No's one and three getting the residue of what else there is left - e.g. very little.....!

Some years later you decide to sell the house and contents and move into a retirement home. Sadly you die without making a new will.

Your No 2 favourite son now finds he gets a big fat zero as the house and contents no longer exist. Deadbeats one and three get all the remaining proceeds of the house sale which now form part of the residue.

IGP .............


you have a very good point there


We only have one child ................ and she was told long ago not to expect anything from us as we planned on spending it all :-D

House prices have risen so much here that the house is worth far far more than we ever expected BUT it also still form the basis of the money needed to keep either or both of us in residential care (which has also risen dramatically), if we so need it ............... so, she still may not get anything!!