Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
When there is a charity appeal, there is no doubt that the Scots are generous! The wish to “give back” has grown over the years, and never more so in gifting to charities through a Will. Recent consumer research conducted by Remember a Charity concluded that the number of people deciding to make a charitable donation through a legacy in their Will has increased by 43% in the last 10 years. But how do you go about leaving a legacy in your Will?
Your succession planning is not an exercise to carry out and then forget. You must be vigilant throughout your life to ensure your end-of-life wishes can be fulfilled and that your estate planning remains effective.
The short answer to this question is “No”. However, getting divorced can have a serious impact on your Will. The Succession (Scotland) Act 2016 radically changed the Act of the same name from 1964, with the impact of divorce being centre stage. So, whilst divorce does not revoke a Will in Scotland, ignoring it can have serious consequences.
Many of you will have watched a TV show or film where the family or friends of a deceased meet in the lawyer’s office for “the reading of the Will”, often with dramatic revelations and surprises about the nature of the estate and who inherits it. In Scotland it is usually the executors named in the Will who have the initial meeting with the lawyers. Often, but not always, they are also beneficiaries of the estate. The meeting is usually much less dramatic as, in the majority of cases, the deceased is likely to have discussed the Will with his or her family during their lifetime.
Sometimes people are appointed executors and quickly find themselves overwhelmed by the responsibilities. Whilst being an executor is a privilege – someone trusts you to look after their affairs after they have died – it also comes with onerous obligations. This is why you might wish to remove yourself as an executor. Before looking at the mechanisms to remove yourself as an executor, it is important to consider the duties the role of executor entails.
