Tony Maxfield: Where there's a will, there can be affray

Fairness v equity

clock
Tony Maxfield: "One key, and often overlooked, consideration when drafting a will – particularly when the estate is sizable – is differentiating between fairness and equity in the division of assets."
Image:

Tony Maxfield: "One key, and often overlooked, consideration when drafting a will – particularly when the estate is sizable – is differentiating between fairness and equity in the division of assets."

Most high net worth families want to leave a legacy to their loved ones, writes Tony Maxfield. What they rarely consider, however, is that children and extended relatives might squabble over their estate.

John, a business consultant who requested anonymity given the sensitive nature of the topic, found himself in the middle of a family feud when his mother passed away a decade ago. Despite the existence...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Figures published in April1 showed the continued popularity of sustainable funds, with £1.8 billion pouring in, according to M&G

Third of UK investors turn to advisers for ESG support - M&G

'Lack of knowledge'

clock 25 May 2022 • 2 min read
April IHT receipts up £10m on last year, HMRC reveals

April IHT receipts up £10m on last year, HMRC reveals

‘Boost for the Treasury’s coffers’

clock 24 May 2022 • 7 min read
Financial advisers should work to develop new methods of reaching younger people through social media channels such as Instagram, TikTok, YouTube and Twitter, research has shown.

How advisers can attract younger investors - PIMFA's Under 40 Leadership Committee

'Deliver regulated advice via technology'

clock 20 May 2022 • 3 min read