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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11154
Experience:  30 years as a practising solicitor.
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I made a will 11 years ago should I consider making a new one

Resolved Question:

I made a will 11 years ago should I consider making a new one or leave well alone.
I have a daughter who I have not seen since 1982 and no communication.
I am married with 2 grown up an married step daughters. Cyril
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
It's always good to review your will every so often but if you have no changes you want to make, there is no need to touch it.
Alternatively if you wish to revise the executors or the beneficiaries you should consider making a new one.
Happy to discuss further.
I hope this helps. Please leave a positive response so that I am credited for my time.
Customer: replied 2 years ago.

My wife and are are concerned that if the daughter by my other marraige heard of my death she may I repeat may come forward after 32 years is it likely after all this time she could do anything> Cyril

Expert:  JGM replied 2 years ago.
Do you have any other children of your own?
Customer: replied 2 years ago.

no

Expert:  JGM replied 2 years ago.
Your daughter has a claim for one third of your moveable estate, ie, everything except houses and land. There is nothing you can do about this claim. It arises as a matter of Scots law.
The only way to deal with this is to ensure that all money and other movable property is not in your name at the time of your death. Alternatively if your estate is less than the widow's prior rights limits then you could simply tear up your will and die intestate in the knowledge that everything would pass to your wife. The limits are detailed by HMRC as follows:
"Even where there are surviving children, (IHTM12252) the surviving spouse or civil partner is entitled by law to receive out of the intestate (or partially intestate) estate the following prior rights (the values are those effective from 1 February 2012).
House - any dwellinghouse owned by the deceased spouse or civil partner in which the surviving spouse or civil partner was ordinarily resident, if that dwellinghouse does not exceed £473,000 in value. If the house is worth more than £473,000, the sum of £473,000 instead (satisfied entirely from the heritable estate).
Furniture - furniture up to a value of £29,000, and
Cash Provision - the sum of £50,000 if there are surviving children or the sum of £89,000 if there are no surviving children. This is satisfied proportionately from the moveable and heritable estate remaining after prior rights a. and b. have been met. Interest is payable on the cash provision from the date of death to date of paymentat a rate of 7%.
The settlement of prior rights reduces the value of the fund (the net moveable estate) upon which the legal rights calculation is based. Otherwise prior rights do not affect legal rights. If the intestate estate is not enough to meet the prior rights the surviving spouse or civil partner may be entitled to the whole intestate estate. In partial intestacy cases any legacies bequeathed to and accepted by the surviving spouse or civil partner have to be deducted from the cash provision."
JGM and other Scots Law Specialists are ready to help you
Customer: replied 2 years ago.

Thankyou that is all

Expert:  JGM replied 2 years ago.
Thanks.