Dealing with the loss of a loved one is a source of real heartbreak, one which can be felt even more keenly if an asset or gift, also known as a legacy, that was promised to you in a Will is given to someone else.
It’s important to know that, even in this distressing time, you do not have to deal with this alone. My team and I are experienced in helping people understand their position when things have not gone as they’ve expected, particularly when it comes to difficulties after the passing of a loved one.
How can you lose a legacy?
Following the death of a loved one, an executor’s duty is to administer the estate and collect all assets held by the estate. These are then distributed in accordance with the Will. In instances where an asset no longer exists at the time of death, or the deceased gave an asset to someone before they passed away, it can happen that you lose your legacy.
If you’ve lost your legacy, the money or asset left to you in a Will, you may feel hurt and want to dispute the fact that the gift was given away prior to the death.
You can, however, still get clarity and challenge this. It’s not uncommon for Will disputes to arise around pre-death gifts and my team and I can help you when things haven’t gone as expected.
What is a ‘death bed gift’?
A death bed gift is a gift or asset that is given away before a person passes away. It is considered to be outside of the estate, meaning that, even if a person has been promised the asset in the Will, they will not receive it. Instead, a different person that the deceased has chosen will receive the asset.
This can be a source of conflict, but there are very specific steps that have to be taken for the asset to be considered a death bed gift and for it to fall outside of the estate. These specific and unequivocal steps can help protect your legacy in case of a dispute.
In order for an asset to fall under the umbrella term of ‘death bed gift’, it has to be decided in contemplation of a person’s actual death. It also has to be conditional on the death of the person and must involve the physical handing over of something.
While the situation and idea of a dispute may be confusing and daunting, there are laws that exist to protect you. For instance, these steps can protect your legacy, and my specialist team and I can give you clarity on your situation. If you feel hurt or wronged by events that haven’t gone as expected, you can speak to us confidentially.
Get in touch with our team if you believe you have lost on your legacy and want to explore your options. Make an enquiry or call us directly on 0151 282 1700