A recently reported case highlighted that low cost Wills may well be too simplistic to accurately reflect the owners wishes and resulted in the wrong beneficiary being awarded the assets of the deceased.
In 2007, Ebenezer Aregbesola paid £90 for a Will through the Barclays’ Will writing service. Under that Will, Mr Aregbesola left a one half share of his London home to his daughter, Tinuola Aregbesola.
Mr Aregbesola owned the property as a “joint tenant” with his wife, who was not Tinuola’s mother. The result was that on his eventual death in 2014, Mrs Aregbesola was the beneficiary of her husband’s share in the house, not Tinuola. The title transferred automatically in accordance with the joint tenancy, not under the Will. A simple way to have avoided this would have been to “sever” the joint tenancy during Mr Aregbesola’s life to allow the Will to take effect in transferring the property share to Tinuola.
The Will writing service used failed to consider this issue or their particular circumstances. Barclays is a reputable financial services provider which is authorised and regulated by the Financial Conduct Authority, however, the Will writing division is separate and not covered by any regulatory authority.
Although this is an English case, the same could easily happen in Scotland. The case highlights the risk of putting a low cost, so called ‘DIY’, Will in place rather than seeking appropriate legal advice.
Nowadays, family structures are growing in complexity. As people remarry and enter into property transactions with their new spouse, existing Wills must be reviewed to ensure that they are up-to-date. Additionally, in Scotland, a divorce does not normally affect a bequest under a Will so it's vital that your Will is revisited following a separation.
Where a person has remarried, there are various ways to structure a Will to allow for a second spouse to be provided for as well as ensuring that children from an earlier relationship are not excluded. A Trust structure can be useful to protect inheritance for future generations and we can provide bespoke advice on your particular circumstances.
Whatever your situation, the importance of instructing a Solicitor when putting a Will in place should not be underestimated. Good legal advice can help avoid uncertainties and costly arguments after your death.
