I wish to make a will, but I do not have enough to go around. I fear that the Will may get into the wrong hands and cause upset to those who do not get a mention.
It used to be that when you made a will it was stored away so that not even your lawyer could find it. But in this digital age there are multiple copies of wills on computers, attached to an email, etc. This means that people worry that their relatives and friends may get to see the Will before they go and get upset that they have been left out or in some cases not been left enough. Such fear can drive clients to make wills that resemble an Oscar acceptance speech.
If your estate is modest then in order to give something to everyone your lawyer can slice and dice your assets into bequest sized packages and add a few things that you do not own now but aspire to own by your death such as a Morgan, Rolex watch, villa in the South of France, etc. Gifts can be spread further by giving jointly to several beneficiaries, or for life, or in succession i.e. if the legatee predeceases you then someone else gets it. Add a “survivor takes all clause” and you could increase the longevity of even the frailest family member.
You will no longer need to fear a pre-death glimpse or even a full-scale relative review of your will. A carefully drafted will can contain a cast of beneficiaries who would do credit to a Cecil B. De Mille epic.
You will find yourself gaining in popularity as your will delights family and friends alike. Not to mention a bigger turnout at your funeral even if it is raining.
Extract from - I'll have the law on you -selected letters of John Fytit to be published later this year.
(c) Paul Brennan 2015. All rights reserved.