A reminder of the importance of making your wishes expressly known in your will

Following the Secret Agent’s article ‘An inheritance, sibling rivalry and a townhouse. Is this an Austen novel?’ in the Sunday Times, Una Angus, a Senior Paralegal in our Wills, Estate & Tax Planning team, looks at some of the issues that can arise in this situation.

First of all, in this case the “patriarch” had given a power of attorney to his eldest son, who now wanted to sell the family home.  It’s important to bear in mind that once an individual has died, their Lasting Power of Attorney ends and, generally speaking, the deceased’s assets pass to their personal representatives, meaning an attorney no longer has the legal right to put a house on the market.

The scenario also highlights the importance of taking expert legal advice when putting your affairs in order to ensure the people you care about are supported after your death.  After all, a will is a flexible instrument, permitting you to make varied and complex provision for your family.  In the Secret Agent’s article, the deceased failed to make his wishes for “his large house in Chelsea to remain in the family” explicit in his will.  Sadly the article points to the difficulties caused by relying on beneficiaries’ goodwill as each of the deceased’s three children “has a different idea about what to do with the place”.  Given the three children’s differing views in this case, it was predictable that conflict would arise if the patriarch didn’t make his wishes clear.  In that situation, it would probably be a good idea to have a Will with an independent executor to make sure his wishes are followed, and to avoid his adult children arguing about the steps to take next.

If you would like specific advice in relation to Lasting Powers of Attorney and/or wills, please get in touch.