The Risks of Dying Intestate

Without a valid Will, there are no protective measures in place to safeguard Bear’s inheritance. While he will receive the funds in full when he reaches adulthood, there are no instructions for how those funds should be managed in the meantime, nor is there any structure for long-term protection or guidance.

Had Liam created a Will, he could have:

• Appointed Executors and Trustees to manage the Estate and any ongoing income (such as royalties).
• Named Guardians to care for Bear, if needed.
• Provided for other loved ones, such as a partner, friends or family.
• Set out specific instructions on how and when Bear should benefit from the Estate.

A Surprising Oversight

Given Liam’s profile and wealth, it is likely that he had a team of professional advisers around him—accountants, lawyers, agents, and wealth managers. It is surprising that a Will was not in place, particularly given his personal circumstances: substantial assets and a young child from a previous relationship.

Of course, he may have received advice and simply delayed acting on it. But the consequences of that delay are now significant. There is no plan in place for future income streams from Liam’s music career, no provision for his bereaved partner or wider family, and no control over how Bear’s inheritance will be used.

Why This Matters to Everyone

While this case has gained media attention due to Liam’s fame, it highlights a much broader issue. More than 56% of adults in the UK still do not have a will in place. Many assume they don’t need one, or believe their affairs are simple. But the reality is that dying without a Will removes any control you have over what happens after your death.

Protecting Your Legacy

A valid will is not just a legal document—it’s a way to take control of your legacy. It ensures your wishes are honoured, your loved ones are provided for, and your affairs are handled by people you trust.

No matter your age, wealth or circumstances, don’t leave things to chance. Take advice, act now, and protect what matters most.

If you’d like help preparing or reviewing a Will, our Private Wealth team at Sherrards is here to guide you.

📧 law@sherrards.com

Reflecting on his instructions for his assets, which he left on his phone, he said “that first night I wrote a Will, I thought I was going to die”. 

Although the act of documenting his last wishes, during this traumatic life event, will be understandable to many, it is important to outline that Max’s iPhone Will would not have been a legally binding Will.  Although digital text is technically writing, to have been considered a valid Will, a physical document signed by him and witnesses would have been required.  This will be a surprise for many given our reliance on phones in this digital age. 

The Law Commission is considering the current legislation and whether electronic Wills should be recognised.  However, until any changes take effect, it is essential that a Will is on paper to be legally binding.

Requirements for making a valid Will 

Wills are primarily governed by the Wills Act 1837. Under section 9, no Will is valid unless:

• it is in writing,
• signed by the testator, or by some other person in their presence and by their direction;
• with the intention of giving effect to the Will;
• Signed in the presence of two witnesses, who are also in the presence of the testator. 

 

You should also be aware that if you need to prepare a Will in another country, for example if you own assets abroad, the requirements for making a valid Will there are likely to be different to the UK requirements.

Implications for an Invalid Will

Following a death where there is no valid Will in place, your estate would pass under the Intestacy Rules, whereby the law will determine who will inherit your estate.  This may result in your assets not passing to those you would wish to benefit, for example, as in Max’s case, long-term partners who are not married to the deceased would not automatically inherit under an intestacy. 

How can Sherrards assist you with your Will 

Max’s story highlights how important it is to ensure you have a valid Will in place.  To avoid being left without a Will, and your wishes not taking effect on your death, we encourage you to contact us at Sherrards.  By consulting with one of our Private Wealth experts, we will assist you in creating a valid Will, specific to your personal circumstances, which will provide security for your loved ones.  

 

If you would like advice on preparing your Will or have questions about the validity of your existing arrangements, our dedicated Private Wealth team at Sherrards is here to help.

Combining in-depth local knowledge with practical cross-border expertise the Italian Desk is headed by Francesca Rossi, partner in our Private Wealth team. Francesca grew up near Venice, but moved to London after completing her Italian law degree and qualified as a solicitor in 2007. Working in London for the past fifteen years, Francesca has cultivated a formidable network of Italian related contacts and clients. She also sits on the board of the British Italian Law Association.

Since joining Sherrards last October, Francesca has been instrumental in developing this initiative, to add to the firms well established French and German desks. Francesca is supported by partner Greg Pooler, who specialises in commercial litigation and trainee solicitor Max Marmor, who studied Italian at university.

On the Ground in Italy

To coincide with the launch of the Italian Desk, Francesca recently travelled to Rome and Milan to meet with a range of professionals including lawyers, accountants, and representatives from the British and Italian business communities. Taking place in late February, the trip was designed to establish and strengthen relationships that will directly benefit clients with UK-Italy interests.

Some highlights of Francesca’s trip include attending the STEP Global Congress in Rome, where Francesca engaged with international private client advisers on cross-border wealth and succession planning. In Milan, she held meetings with members of the British Chamber of Commerce for Italy, as well as representatives of the British Consulate and the Department for Trade and Industry. She also met with leading Italian law firms and professional advisers, focusing on how best to support clients needing coordinated legal advice across both markets.

Cross-Border Developments and Legal Change

The launch of Sherrards’ Italian Desk comes at a key time for UK-Italy cross-border legal matters. Changes in UK and EU laws post-Brexit continue to shape the way businesses operate between the UK and EU.

Italian legislative changes are on the horizon, including reforms aimed at attracting foreign investment and updates to corporate governance and tax, which will influence how UK companies engage with the Italian market. The upcoming changes present positive news for people or companies looking to invest in Italy. In addition to this, Italy’s Non-Dom regime, the favourable inheritance tax rates and its recognition of trusts make it an attractive destination for UHNW individuals looking to relocate.

Francesca and the Italian Desk are well placed to guide clients through these developments, combining local understanding with Sherrards’ established expertise in a variety of legal sectors.

Supporting Clients Going Forward

The Italian Desk is part of Sherrards’ broader strategy to enhance our international services and build stronger connections with overseas markets. Whether Italian businesses and individuals investing in or relocating to the UK, or UK companies seeking to do business in Italy, our team can offer seamless, tailored advice to support cross-border transactions and resolve complex international issues.

We welcome enquiries from both existing and new clients who may benefit from this service, and invite anyone with interests in the UK or Italy to contact Francesca Rossi or a member of the Italian team to discuss how we can assist.

1. Gifting Money to Your Children

Giving money during your lifetime is a simple way to pass on wealth while cutting down on inheritance tax (IHT). Each year, you can gift up to £3,000 tax-free, and any unused amount can be carried over to the next year. Small gifts of up to £250 per person annually are also tax-free. If you are making larger gifts, they may be exempt from IHT if you live for seven years after giving. Wedding gifts provide another opportunity to transfer wealth tax-free, with parents able to give up to £5,000 when a child gets married, and some other relatives able to give smaller amounts tax free.

2. Using a Family Trust

Trusts can be a great way to protect money for your children and ensure it is used wisely. There are several types of trusts to consider. Bare Trusts allow children full access to the money or assist when they turn 18, while Discretionary Trusts give trustees control over how and when funds are distributed and are a useful way if getting money out of an estate whilst retraining control of how and when the trusts assets can be paid out to your children.  Interest in Possession Trusts provide beneficiaries with income from the trust without access to the original capital. Settlor-Interested Trusts allow the person setting up the trust to benefit from it, though they come with specific tax implications. Trusts can safeguard wealth, reduce inheritance tax liabilities, and help control how children receive their inheritance, preventing mismanagement or misuse.

3. Smart Saving with Junior ISAs and Pensions

Building financial security for your children does not just involve direct gifts or trusts. Junior ISAs allow parents to save up to £9,000 per year in a tax-free account that children can access at 18. Children’s pensions are another overlooked but powerful tool. Parents can contribute up to £2,880 annually, with government top-ups bringing the total to £3,600, setting their children up for long-term financial stability.

4. Make a Will – Don’t Leave It to Chance

A will is essential to ensure your assets go where you intend after you pass away. It allows you to appoint guardians for your young children, ensuring they are cared for by people you trust. You can also include provisions for setting up trusts within your will to manage inheritance for minors. Careful estate planning can also help minimise inheritance tax, making sure more of your wealth benefits your family instead.

Final Thoughts

Planning now means peace of mind later. Whether through gifting, trusts, ISAs, or a will, taking proactive steps today can make a big difference for your children’s future.

A private wealth solicitor can guide you in making the best choices to protect and grow your family’s financial legacy.

Please note that this article does not constitute tax advice, and the best approach will depend on your personal circumstances. It is always recommended to seek professional advice tailored to your situation.

To find out more go to our dedicated Private Wealth webpage or click the contact details below. 

 

An LPA is a legal document that allows you to appoint one or more people to help you make decisions, or to make decisions on your behalf, if you lose mental capacity. There are two types of LPA – one for Property & Financial Affairs and one for Health & Welfare.

Many people delay or avoid making an LPA because they mistakenly believe they don’t need one. Let’s debunk five common misconceptions:

A Will and an LPA are two separate documents, and each serves an entirely different purpose. A Will only takes effect after your death, whereas an LPA only operates during your lifetime. The executors named in your Will have no authority to manage your affairs while you are alive and the authority of your attorneys under an LPA ceases on your death. Without an LPA, no one – including family members – can automatically make financial or medical decisions for you.  

1. “I am not elderly so I don’t need an LPA.”

Losing mental capacity is not limited to the elderly. Accidents, strokes, or illnesses can affect anyone at any age. Even temporary incapacity can create financial and legal complications. If you wait until you need an LPA, it may be too late—you must have mental capacity at the time of setting one up.

2. “My family will take care of my assets if anything happens to me.”

Many assume their spouse or children can automatically take over their affairs if they become unable to manage them. However, no one has the legal right to do so without an LPA. Having an LPA means someone you trust can quickly, easily and legally step in as your attorney. Without an LPA, your loved ones will have to apply for a deputyship through the Court of Protection, a process that is expensive, time-consuming, and stressful.

3. “Everything I own is in joint names so I don’t need an LPA.”

If a joint account holder loses capacity, banks can freeze the account, preventing the other owner from accessing funds. Similarly, property held in joint names cannot be sold without the consent of both owners. Without an LPA, your co-owner may have to go through the court system to act on your behalf. Ease the stress for your loved ones and prepare an LPA.

4. “I already have an Enduring Power of Attorney (EPA), so I don’t need an LPA.”

This may be true—but not necessarily. EPAs were replaced by LPAs in 2007. While an existing EPA remains valid, it only covers property and financial decisions, not health and welfare matters. Additionally, if your circumstances or relationships have changed since 2007, you may want to review and update your arrangements.

Without an LPA, your loved ones could face unnecessary delays, expenses, and legal hurdles at an already difficult time. Don’t leave it to chance—secure your future today. Contact us here to find out how we can help you set up your LPA quickly and efficiently.

 

Francesca joins as a partner and Head of Italian Desk, having advised Italian clients born or domiciled in the UK over many years. Francesca has deep experience in English/Italian matters and regularly manages private wealth on complex and high value matters including working with other professionals in resolving issues involving Italian assets and their transfer by inheritance.

She advises private clients on a full range of activities involving the management of movable and immovable assets, including conditional exemption of assets and foreign aspects of estate administration. She has a particular focus on cross-border issues and inheritance and tax advice for persons with international connections.

She also advises clients on UK estate planning, trusts and estate administration. 

Nicole Marmor, Partner and Head of Private Wealth at Sherrards said “I am thrilled to welcome Francesca to the Private Wealth Team. Her extensive expertise in Anglo-Italian matters not only strengthens our department’s expertise in cross-border succession matters, as recognized by leading legal directories, but will also foster collaboration across the firm to better serve our valued Italian clients”.

Paul Marmor, Head of International commented “It’s a real coup getting Francesca on board which consolidates our European reach alongside our French and German desks. This marks a new milestone, positioning us to assist European clients—especially those from Italy—in establishing and investing in the UK. Additionally, our unparalleled international network ensures exceptional support for clients seeking outbound opportunities.”

Commenting on her decision to join the firm Francesca added “I am excited to head our Italian desk and to have the opportunity to play a role in strengthening our international capabilities by delivering tailored advice and solutions to our Italian clients”.

Francesca’s appointment comes as part of ambitious growth plans for the Private Wealth team, as well as the wider firm, with a particular focus on expanding the range of specialisms provided to our client base. Francesca joins forces with our dynamic Private Wealth team led by Nicole Marmor, and recently promoted Partner Arthur Byng Nelson.

For the second consecutive year, Nicole has earned a place among the top International Private Wealth Lawyers, reaffirming her exceptional expertise and dedication in the international Probate and Wills.

Since its inception in 2006, Spear’s magazine has been a cornerstone for ultra-high-net-worth individuals and their advisors, offering insightful coverage on wealth management, business culture, and luxury lifestyles. The magazine’s annual rankings are a respected benchmark in the industry, reflecting peer recommendations, client feedback, and extensive research by the Spear’s editorial and research teams.

Nicole Marmor’s continued recognition in 2024 highlights her outstanding contributions to the field and her unwavering commitment to delivering unparalleled legal services in probate and wills. Her role as Head of Private Wealth at Sherrards has been instrumental in setting new standards in international probate and will individuals.

Nicole expressed her gratitude, stating, “I am deeply honoured to be recognised by Spear’s once again. This accolade reflects not just my personal commitment to excellence, but also the collective effort of our team here at Sherrards. It is incredibly rewarding to be acknowledged in a field with so many talented professionals.”

For those interested in consulting with Nicole or a member of the Private Wealth team at Sherrards, please reach out to law@sherrards.com.

To explore the latest rankings on the Spear’s website, click here.

To view Nicole’s profile on Spear’s, click here.

 

Understanding the Basics:

A will is a legal document that outlines how a person’s assets should be distributed following their death. Having a clear and comprehensive will is essential to ensure that your partner is properly taken care of and that your wishes are respected.

In many jurisdictions, if there is no will in place, the law dictates how assets are distributed. In the UK, this falls under the Intestacy Rules. This default arrangement may not align with your intentions, particularly when it comes to non-traditional family structures. Therefore, a will allows you to have control over who inherits your assets, including your partner.

Choosing the Right Executor:

An executor is the person responsible for carrying out the wishes outlined in your will. When selecting an executor, consider someone you trust implicitly, as this role involves handling financial matters and ensuring the proper distribution of assets. It is crucial to discuss this decision openly with your partner and ensure they are comfortable with your choice.

Guardianship for Children:

For couples with children, clearly stating your preferences for guardianship in your will is vital. This becomes especially important for same-sex couples, as legal recognition and protection for non-biological parents may vary. Clearly defining your wishes can prevent potential disputes and ensure the well-being of your children.

Protecting Your Partner:

In many countries such as the UK, marriage equality has granted same-sex couples the same rights as heterosexual couples. However, it is essential to stay informed about local laws and regulations, as they can vary. With global mobility on the increase and many people moving abroad for work or other considerations, this may potentially affect one’s place of relocation. If marriage is not an option or does not provide sufficient protection, legal documents such as a will or power of attorney become even more critical.

Regularly Review and Update:

Life is dynamic, and circumstances change. It is advisable to review and update your will periodically, especially after significant life events like marriage, the birth of children, or the acquisition of new assets. Ensuring that your will reflects your current situation will help avoid complications going forward.

Conclusion:

In the pursuit of love and happiness, legal matters should not be overlooked. Same-sex couples, like any other, can benefit greatly from thoughtful will and succession planning. By taking the time to understand and navigate these essential legal steps, you not only safeguard your partner’s future but also ensure that your wishes are respected and your legacy is preserved.

Sherrards is part of an international alliance of legal and accountancy firms, Alliott Global Alliance, represented in 96 countries and we can connect you with advisers if you are looking to move abroad.

To find out more, contact Nicole Marmor. 

The event brings together Trust and Estate Litigators from across the globe to network and learn about recent contentious proceedings and updates.

This year, the Trusts & Estates Litigation Forum will take place 4-6th February 2024, and will be hosted in the city of Marrakech, Morocco.

Charles Burrell, Senior Associate and Head of Contentious Trusts and Estates will be in attendance and representing Sherrards.

Charles said “It is a pleasure to be attending the Forum on behalf of the firm. I am excited to connect with fellow professionals and build relationships with my peers across the globe..”

If you are attending the Trust & Estates Litigation Forum and would like to meet with Charles while you are there, please reach out to him on the details below.

As part of The Sherrards Training Academy, we have asked our Legal Assistants and Trainee Solicitors to write articles to support their learning, and also to ensure they start to build on their own personal brand. This article has been fact-checked and proofread by Head of the Private Wealth department, Nicole Marmor.

Introduction:

In the realm of estate planning, Lasting Powers of Attorney (LPAs) hold equal significance to Wills as tools by which individuals can safeguard their autonomy and ensure their wishes are honoured.

The Powers of Attorney Act 2023 received Royal Assent on 18 October 2023 and signifies a milestone in the law surrounding LPAs. The legislation is poised to take effect in early 2024 and will usher in substantial changes to how LPAs are registered and safeguarded.

The Act comes in response to concerns surrounding complexities and inefficiencies permeating the current LPA system and aims to promote accessibility by enabling online registration.

What is a Lasting Power of Attorney?

An LPA is a legally binding document enabling the donor to designate a trusted person (or persons) as their legal representative. The attorney is authorised to act on the individual’s behalf in situations where they are unable to do so.

There are two types of LPAs, one pertaining to financial matters and the other to health and well-being. Many choose to have both in place. Both documents need to be registered in order for the attorney(s) to act. By registering a power of attorney, you ensure that you retain control over how your affairs are managed in the future, irrespective of your personal circumstances.

How will the Powers of Attorney Act change the current landscape?

The Act’s primary objective is to streamline the LPA process, making it more convenient whilst reducing the clerical errors traditionally associated with wet ink LPAs. LPAs will be able to be created and registered online which will (hopefully) significantly reduce the processing time.

Nevertheless, it’s not all ‘laissez-faire’ when it comes to the Powers of Attorney Act, considerable safeguards have been put in place with the aim of shielding vulnerable donors from potential fraud and abuse, attorneys are now being required to provide more comprehensive information regarding their relationship with the donor. Furthermore, to ensure compliance with these new measures the Office of the Public Guardian (OPG) has been granted increased authority to assess and challenge LPAs and a new criminal offense of LPA fraud has been introduced to fortify the measures.

Forecast for the future:

Cloudy with a chance of LPAs …

It is anticipated that there will be a surge in the number of people wishing to register an LPA due to the convenience of the digital registration process. Private Wealth solicitors are poised to play a pivotal role in facilitating this process, offering guidance on the recent amendments and potentially undertaking reviews of existing LPAs to ensure compliance with evolving legal standards.

The OPG is expected to provide online training specifically tailored to acquaint legal professionals with the new digital LPA registration process. Solicitors may consider integrating online resources and video conferencing services to streamline access to their LPA-related advice, adapting to the changing legal landscape to benefit their clients.