Highlighted in the news today are a number of cases where political parties have taken advantage of loosely worded Wills. Bequests to’ Government of the day’ have been taken to mean Political Parties in Government today. One wonders about the Executors of the Will who paid over the monies to the Political Parties. They may well be at risk for not strictly adhering to the words in the Will.
The other interesting point of course is that bequests to political parties in Wills reduce the value of the Estate for Inheritance Tax purposes. With an estate in excess of £500k this could be a considerable figure as the deceased had never been married. On the other hand if it was all left to the Government they would get it anyway.
Your Will is important. The way it is written is important . The choice of executors is important.