Farewell for now

Abigail Liddicott
Feb 2023 • 3 min read

Farewell for now

I like to think that there are many different seasons in life. Change can often be bittersweet. When the crocuses and snowdrops begin to emerge, the excitement of Spring sets in, new life. I am thrilled to announce that my husband and I are expecting a baby, and this week, according to the midwives, I am 37 weeks pregnant.

There is so much anticipation and excitement buzzing around. There are books to be read; classes to attend; product reviews and research to be done; conversations with our elders who have done this all before. Although the joy and delight are our primary feelings there is also a goodbye to our life as just the two of us, and a pause on my income. There is something wonderful about being able to spend money on something that you’ve saved for and desired for so long. Filling a spare room with furniture that you had only fantasised about. Now we will enter a new phase of budgeting as our priorities shift.

I am taking some time off to nest, rest and welcome our first child. Becoming a parent is a dream of mine so I am very excited for what lies in store, albeit nervous at the same time. It has been lovely getting to know the clients I have interacted with over the past couple of years, thank you for all your engagement, it is so appreciated. I have thoroughly enjoyed working with a fun, dynamic, caring team at Solomon’s. I know you will be well looked after by the rest of the team whilst I am away.

BACK TO ALL BLOGS

Where there’s a Will…

Solomons-financial-advisor-wimbledon-blogger

Where there’s a Will…

Perhaps you know the saying.. “where there’s a Will, there’s a crowd”, well it seems that there may have been a landmark ruling in the Court of Appeal. This could impact anyone wishing to disinherit their own children.

The potential landmark ruling was handed down by Lady Justice Arden at the Court of Appeal on 27 July 2015 throws into question the “security” of a number of Wills.

Long story short – Heather Ilott challenged her late mother’s Will of 2002. The original Will made by her mother Melita Jackson, expressly prohibited her only daughter from any inheritance from her estate, leaving the entire estate to animal charities. This all stemmed from a family event in 1978 when Heather then 17, eloped with her boyfriend, who she later married. Mrs Jackson died in 2004 and the Will was initially challenged by her daughter and she was awarded £50,000 of the £486,000 estate. An appeal was initially denied, but this week was upheld by Lady Justice Arden. Heather Ilott was awarded £164,000 about a third of the estate.

“Unreasonable, capricious and harsh”

Lady Justice Arden, ruled that the exclusion of her daughter from an inheritance was unreasonable, capricious and harsh. Ruling that she should have a greater share of the estate.

Needless to say this prompts a few concerns and questions. Firstly it has taken 11 years to agree the terms of Probate and settle the Will. Secondly the original Will, despite being “crystal clear” was overturned, not completely, but essentially opening the way for more legal challenges to Executors. Of course, the animal charities have also lost a reasonable amount too – presumably having an impact on their planning somewhere.

The number of Wills challenged each year continues to rise which rather affirms the statement that where there’s a Will, there’s a crowd. Most people do not understand what is involved when someone dies, having little or no grasp of the lengthy delays that can occur. This case has been rolling on for 11 years!

You can see the ruling by clicking here.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk