Transfer Assets now to prevent claim on will.

Mands

GoldenOldy said:

As i say , its a strange world when you cannot decide for yourself where your money goes to!

There are many countries where forced heirship comes into play. There, one has no choice where the majority of one's assets are inherited. France, Germany, Japan for example.

I don't say this to minimise your distress, just to point out that in England most people are able to leave their assets to whomever they wish.

In your case: when was the child last financially supported by you? And do they, in your opinion, have the financial resources to bring a claim against your estate. If it helps a legal bill for such a case normally runs to 5 figures. Do they have that?

GoldenOldy

Mands said:

GoldenOldy said:

As i say , its a strange world when you cannot decide for yourself where your money goes to!

There are many countries where forced heirship comes into play. There, one has no choice where the majority of one's assets are inherited. France, Germany, Japan for example.

I don't say this to minimise your distress, just to point out that in England most people are able to leave their assets to whomever they wish.

In your case: when was the child last financially supported by you? And do they, in your opinion, have the financial resources to bring a claim against your estate. If it helps a legal bill for such a case normally runs to 5 figures. Do they have that?

Hi. No monetary support now for 10 years or more. Estrangement for 5. No, they wouldnt have 5 figure sums unless they could wheedle it out of someone. To be on the safe side should i transfer assets to my other half now.? We are on the trajectory that I will be departing first , unless a catastrophe hits , heaven forbid.

BooJewels

I think you're perhaps over thinking it and worrying unnecessarily.  If you have your will properly drawn up by a suitably experienced solicitor and add a side letter to explain, there should be very little room for misinterpretation or challenge, in the circumstances you describe.

If your current wife were very recent and it looked as though you had been strong armed into putting your house into joint names to the detriment of dependant offspring, your family might have cause for concern - but if she was a gold digger she's been playing a very, very long game. 

Presumably, if you've been married for 38 years, your son from a previous relationship must be older than that.  So they could probably only argue financial dependence, if they had difficulties that prevented them supporting themselves. 

Please don't do anything until you've taken proper legal and / or financial advice.

Keep_pedalling

Mojisola said:

bobster2 said:

Flugelhorn said:

Hardship is not a reason for them to be able to claim against the estate - if they had been hard up for years and you had regularly sent them some money then it would be a very different matter

The financial needs of the putative "dependent" are relevant, even after a period of estrangement...
Take a look at Ilott v Mitson [2011]...
https://www.birketts.co.uk/legal-update/provision-for-family-and-dependants-act-1975/
Yes - the award was reduced on appeal - but there was still a substantial award.

I think that case succeeded because all the estate was left to charities.

If it had been left to a spouse, as in this situation, I don't think the claim would have considered to be so strong.

It was a bit more complex than that, much of the estate had originated from her father and the testator had absolutely no connection to those charities during her lifetime. 

Successful cases are rare, it’s mainly the cost and stress of defending them that is the real pain

Keep_pedalling

GoldenOldy said:

Mands said:

GoldenOldy said:

As i say , its a strange world when you cannot decide for yourself where your money goes to!

There are many countries where forced heirship comes into play. There, one has no choice where the majority of one's assets are inherited. France, Germany, Japan for example.

I don't say this to minimise your distress, just to point out that in England most people are able to leave their assets to whomever they wish.

In your case: when was the child last financially supported by you? And do they, in your opinion, have the financial resources to bring a claim against your estate. If it helps a legal bill for such a case normally runs to 5 figures. Do they have that?

Hi. No monetary support now for 10 years or more. Estrangement for 5. No, they wouldnt have 5 figure sums unless they could wheedle it out of someone. To be on the safe side should i transfer assets to my other half now.? We are on the trajectory that I will be departing first , unless a catastrophe hits , heaven forbid.

Do you have a terminal illness? Has your wife made a will and if so who is she leaving her estate to?

macman

GoldenOldy said:

Bobster..oh my goodness, bang goes my sleep tonight!
As i say , its a strange world when you cannot decide for yourself where your money goes to!

That's really not the case. The inheritance laws in England and Wales are far less rigid (in that they allow you to disinherit your offspring) than in most European countries. In France, for example, you simply could not do this. Children are 'protected heirs' and you would have to leave 50-75% of your estate to them. 

bobster2

macman said:

GoldenOldy said:

Bobster..oh my goodness, bang goes my sleep tonight!
As i say , its a strange world when you cannot decide for yourself where your money goes to!

That's really not the case. The inheritance laws in England and Wales are far less rigid (in that they allow you to disinherit your offspring) than in most European countries. In France, for example, you simply could not do this. Children are 'protected heirs' and you would have to leave 50-75% of your estate to them. 

Yes - they are less rigid. But we do have the Inheritance (Provision for Family and Dependants) Act 1975 which places limits on disinheriting financially dependent offspring.

Keep_pedalling

bobster2 said:

macman said:

GoldenOldy said:

Bobster..oh my goodness, bang goes my sleep tonight!
As i say , its a strange world when you cannot decide for yourself where your money goes to!

That's really not the case. The inheritance laws in England and Wales are far less rigid (in that they allow you to disinherit your offspring) than in most European countries. In France, for example, you simply could not do this. Children are 'protected heirs' and you would have to leave 50-75% of your estate to them. 

Yes - they are less rigid. But we do have the Inheritance (Provision for Family and Dependants) Act 1975 which places limits on disinheriting financially dependent offspring.

It is quite right that we do as well. Consider a long time married couple where the main marital asset is in the sole name of the husband and he leaves it to the cats home or his secret lover leaving the wife without a home, or a dependant child losing out to a long absent spouse because they have never legally separated or made a will.

It is down to any claimant to show that they were financially dependant of the testator which is unlikely to succeed in this case. Having said that people do put in hopeless claims even if it is just to create problems problems for the executor and beneficiaries.

One thing it might be worth the OP looking at is to make sure he has no assets that require probate, as any challenge will put a spanner in the works as far as obtaining it in reasonable time is concerned. No probate also means no public record of his estate or his will.

GoldenOldy

Keep Pedaling. No I dont have a terminal illness, just on the decline now.
My other half has left everything to me.
Re having no assets that require probate, …thats what I am thinking .
Put everything into joint names, or even transfer the lot over.

although i cant avoid probate all together as have one little business asset with my old friends (its  a little lock up worth about £150 ) which is still going ,and I understand you still have to list joint assets held as husband and wife anyway?
So maybe transfer in whole everything except the lock up?

Keep_pedalling

GoldenOldy said:

Keep Pedaling. No I dont have a terminal illness, just on the decline now.
My other half has left everything to me.
Re having no assets that require probate, …thats what I am thinking .
Put everything into joint names, or even transfer the lot over.

although i cant avoid probate all together as have one little business asset with my old friends (its  a little lock up worth about £150 ) which is still going ,and I understand you still have to list joint assets held as husband and wife anyway?
So maybe transfer in whole everything except the lock up?

Sorry for having to ask the question, but it is important to understand the risks involved and it would appear there could be significant risks with transferring all your assets now. If you transferred everything today and next week your wife was killed in an accident the following week, you would be left getting everything back plus her sole assets on top. Who would inherit then?