The will trust is enjoying a renaissance. The decision by increasing numbers of people to leave their estates by will in trust, rather than outright, is not the product of any tax changes; contrary to popular belief, tax considerations are rarely the main driver for setting up a trust.
The recent decision of the Court of Appeal (CA) in Alice Kahrmann (as administrator of the estate of Rainer Christuab Kahrmann) v Hilary Harrison-Morgan (2019) may on the face of it appear to be a textbook dispute between a daughter and step-mother but it teaches us more than meets the eye, particularly in respect of the power of a constructive trust.
We discuss the various aspects that you should consider from a family and inheritance or succession perspective when deciding which matrimonial regime to elect (or whether to create another type of agreement), including what will happen by default if you do not select any.
In most cases, after the death of a loved one, family members and those close to the deceased come together to agree a fitting and respectful ‘send-off’ for the deceased, whether that involves a funeral, burial, cremation, memorial service or any other way of saying ‘goodbye’.