Legal News | 30.10.25
‘Spooky Season’?
Taking place on 30 October last year, commentators were quick to reference it as the ‘Halloween Budget’ speculating whether it would be a ‘trick or treat’, only for it to be labelled a ‘horror show’ soon after. This year, the Budget is scheduled for the end of November so standby for a shift in seasonal references and puns…!
To distract you from the constant Budget chatter and embrace the ‘spooky season’ avoided by the Chancellor this year, here are some scary scenarios for YOU to avoid when it comes to the Private Client space…
- No Will – if you die without a Will, the intestacy rules will apply dictating to whom your estate should pass. Your next of kin is an estranged cousin? They may well inherit everything you hold dear. No next of kin? Your estate may pass to the Crown. Make sure that your wishes are documented in a valid Will so that your assets pass to your desired recipients.
- Missing Will – even if you do prepare a Will, you could cause panic for your loved ones if they are unable to locate that Will. An original Will is required to obtain the Grant of Probate and, in many cases, allow your executors to administer your estate. Whether retained with personal papers or stored by your solicitor, ensure that your family know where to find your Will.
- Choice of executors – these are the people you nominate, trusted to act with integrity and follow your wishes. Appointed someone who is not good with money or is unable to act impartially? Or perhaps you have appointed several executors who do not get on and will be unable to work together? All could be a recipe for disaster. You should carefully consider who to appoint in this role.
- Records – it is incredibly helpful for your executors and loved ones if you keep a note of your assets. If your executors have no records, the nest egg you have set aside may go unnoticed and never pass to your loved ones. It is good practice to regularly maintain a note of your assets and ensure this will be available to your executors on your death.
Unfortunately, there are plenty of nightmares to encounter in the Private Client sphere and the above is just a snapshot of the advice we can provide to help you. If you wish to discuss your estate with a view to making things as smooth as possible on your death (or if you are spooked by the Budget and want to review your planning once the Chancellor has unveiled her plans), please reach out to us at wealth@wansbroughs.com.
