Our fictional couple, Steve and Deb, are a married couple who both have two children from previous marriages, who are all now adults. Unfortunately, although Deb is very close to her children, Steve does not have a good relationship with Deb’s daughter.
Steve and Deb own a house jointly and have several other joint and solely owned assets. They both want to ensure that their share of their joint assets are protected – and guaranteed to pass to their own children – after the death of the first of them, while still wanting to make adequate provision for the survivor of the two of them (each other).
Deb has several pieces of jewellery that she would like her daughter to inherit on her death and Steve would like to ensure that, on his death, a charity gift is made to a charity that is very close to his heart.
Both Steve and Deb admit to having ‘little knowledge’ about estate planning matters and were both surprised to know that the survivor of the two of them would be able, if they wished, to change their will after the death of their spouse.
It’s our job to put Steve and Deb’s minds at rest by helping them to formalise their wishes and explain the various ‘tools’ they can use, and provisions they can put in place, to make sure their estate is distributed in accordance with their wishes. We will meet with Steve and Deb to talk through their circumstances and discuss, sensitively and professionally, general and specific points, including the following :
If you feel like Steve and Deb’s situation has a struck an chord with you and you’d like a free no obligation chat to discuss how we may be able to take steps to formalise your wishes and put your mind at rest, please do not hesitate to get in touch.
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