YBC Academy : Why Have A Will
This is the story of two brothers, Scott and Joseph, who ran a successful car dealership which they jointly owned.
Tragically, Joseph was killed in a car accident. He was only 51 and, as his family were about to discover, unfortunately he did not have a Will.
Joseph had lived with his long term partner Annabel but as they weren’t married she was entitled to nothing from his estate so she decided to make a legal claim against his estate. The cost of this, win or lose, would be paid for by Joseph’s estate.
Joseph had two children, that he did not have a good relationship with, from his previous marriage and, because there was no Will, they would inherit his entire estate under the intestacy rules. Wanting to keep their father’s money, they challenged Annabel’s claim.
The cost of this legal action was so substantial that Joseph’s share in the business had to be sold to cover it.