Busy investors have enough on their plates without worrying about what will happen to their property portfolio after they are gone. Not a cheery topic for the festive season, but as the saying goes, the only certainties in life are death and taxes, so it pays to give some thought to what can be done to ensure assets flow smoothly to intended beneficiaries.
This is all the more important given the more complex family arrangements that are now commonplace: second and third relationships are no longer considered unusual, but can give rise to a balancing act between the interests of children from previous relationships and new spouses/partners.
The obvious answer of course is to make a will; many will have done this and feel satisfied this has been ticked off their to-do list. But, making a will is only the start. How many who have made a will are certain it will do as they expect? How many have considered it even possible that it might not?
Disputes can and do arise. Even if the underlying will itself is not challenged, putting your wishes into effect doesn’t always go as smoothly as you might think.