How important is it really for us to plan for our future, our retirement, and later life? What steps can we put in place to protect our family and ensure that our wishes are carried out?
The case of Mr. Martin and Ms. Williams
Joy Williams had lived with Norman Martin for 18 years at their home in Dorset when Mr. Martin died of a heart attack at the age of 69. Their story highlights the importance of planning for the future by writing a Will.
The property that Mr. Martin jointly owned with Ms. Williams was held by them as ‘tenants in common’ in equal shares. This meant that they each separately held their own share of the house and that Mr. Martin’s share did not automatically pass to Joy Williams upon his death.
The complication in this case arose because Mr. Martin had never divorced from his previous partner, and had not made a Will to represent his wishes. Consequently, the intestacy rules took effect – his share of the house passed to his wife Maureen Martin rather than to Joy Williams, his partner of 18 years.
Court proceedings and the resulting legal costs (in excess of £100,000) could have been avoided in this case by making a Will. Joy Williams said “I hope my situation raises awareness for others to consider their own financial position in relation to their partner and to consider whether they take advice to protect each other in the future.”
The Judge at the Central London Court ruled that “the fair and reasonable result” was that Joy Williams should “retain an absolute interest” in the house where they had lived as husband and wife in a “loving and committed” relationship.
We recommend that couples take legal advice on simple planning measures in relation to their future. It is so important for couples who are not married to make a Will as the law does not protect couples living together.
What the law says
There are different methods of ownership for property. For example:
A joint tenancy
This will ensure that your share of the house will automatically pass to the other owner on death. Had Mr. Martin and Ms. Williams held their property as joint tenants the resulting legal dispute would have been avoided as the property would have passed to Ms. Williams on the death of Mr. Martin.
A tenancy in common
This is useful if there are unequal contributions towards the purchase price for the property. It can be beneficial in second marriages to make sure that children inherit a share of the property. You can then specify that your share of the house passes to your chosen beneficiaries in your Will and not to the other owner of the property.
For specialist advice in connection with:
- Making a Will
- Making a Lasting Power of Attorney for
- Property
- Finances
- Health and Welfare
- Making a Living Will
- Inheritance tax planning
- Retirement planning
- Care home fees
Contact Miss Charlene Davies-Williams, Head of our Wills and Probate department on 029 2047 5100.
Charlene is an accredited Solicitor for the Elderly, a Law Society Panel member for Wills and Inheritance law, and has many years of experience in these areas.