When it comes to writing your Will, it is also pertinent to consider what we can learn from celebrities regarding the way in which we deal with our children. This is because a lot of us are familiar with the famous heirs and heiresses that we see in the news drinking and partying whilst knowing full well that they are never going to have any real money worries due to the significant inheritance that they will eventually receive from their parents some time in the future.
With this in mind, if your heirs know that they are going to be a beneficiary of a trust or your wider estate, what will encourage them to do anything for themselves to make their own way in the world and have their own lives?
Perhaps celebrities themselves may have the answer . . .
Peter Jones of the BBC’s Dragon’s Den, has said publicly that his children will not simply receive all of his fortune just because they are his children – instead they will be actively encouraged to make their own fortunes and define their own lives.–
But what does that mean for the everyday people of Essex and elsewhere in the UK who may not have the millions of a ‘dragon’ to leave to their family and loved ones?
The answer is that there is a need for clear and effective estate planning including the drafting of a Will that not only determines who will receive what from your estate but also in what circumstances they will be inherit.
For more information about how to avoid the problems of the rich and famous when it comes to the distribution of our estates after writing your Will, please get in touch with our dedicated Essex-based team at Andrew Douglas Wills and Legal Services now either via www.andrewdouglaswills.co.uk or on:
01376 348 997
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