27 Sep 2018
It’s not something many of us give a great deal of thought to, especially in our younger years, but the question of what happens to our possessions and wealth when we die is a very important one.
Very simply, everything from our home to savings and investments form part of our estate. And ideally we’d want to have some control over what happens to it when we’re no longer here.
A recent report from The Telegraph newspaper highlighted some of the more unusual requests that certain celebrities and high profile individuals have made in their wills.
Legendary singer Janis Joplin insisted that a huge all night party should be held to celebrate her life and allocated funds from her estate to enable this to happen.
Magician and illusionist Harry Houdini requested that a séance be held every year, whilst George Bernard Shaw declared that some of his estate go towards helping to reform the alphabet, into one that was phonetic.
For many people, pets are a huge part of their lives, and hotel billionaire Leona Helmsley left £6m to her dog, but nothing to two of her two grandchildren. Dusty Springfield requested that baby food be imported to the UK from the US to feed her cat, whilst also making clear that her pet should live in an indoor tree house, lined with scratch pads, whilst being serenaded by her songs.
Other than being at the slightly more extraordinary end of the spectrum, the one thing all of these situations had in common was that a will was made, thereby ensuring that when they died, their affairs were dealt with in accordance with their wishes.
If you die without a will, this can have serious and complex consequences, and can result in a period of stress, particularly for loved ones. The outcome can be unexpected and complicated. The administration of the estate is also made more complicated.
Making a will can save a great deal of cost and hassle, and it’s recommended that you seek the advice of a solicitor or professional who specialises in this field, before making any decisions.
If you would like to speak to one of our experts about making a will, click here.