Michael Jackson's Will

The Smoking Gun uncovered Michael Jackson's will earlier this year.

Looking through the document, it is interesting to notice that it was written shortly after the birth of Jackson's youngest child. It is always recommended that wills are updated after the birth of a new child or in a change of circumstances, such as a marriage, divorce or separation.

The Smoking Gun is a great website for all kinds of celebrity paraphernalia. Along with the wills that occasionally turn up, there is a great section dedicated to rock stars and their riders. Interestingly, even the most extravagant rock stars can't compete with this chap!

Will Writing In Scotland? Beware the law!

Apologies for the slightly sensationalist title, but you should be aware that Scottish law is different to English law. This means that a law that is valid in England and Wales will not necessarily cover all of your bases north of the border.

There are some fundamental differences with Scottish wills:

• people over the age of 12 can make a will;
• inheritance can be taken from the age of 16;
• when a child reaches 16 they no longer have a guardian and can receive inheritances,
• if you do not want a child to take what they are entitled to at 16 it is necessary to set up a trust and to specify the age at which you want the child or children to inherit (in accordance with the Legal Capacity (Scotland) Act 1991)
• some of the terminology is different in Scotland, such as ‘probate’ (the administration of an estate), which in Scotland is called ‘confirmation’.

Also, in Scottish law you cannot completely disinherit your spouse or descendants in your will. Any surviving children will be entitled to a third of your movable estate – that is, everything except land and buildings – and your spouse will be entitled to a further third. You can do whatever you wish with the remainder.

If you have no children your spouse will receive 50% of your movable estate. If your spouse or civil partner has died, your children will be entitled to half of your movable estate.

Information from Help The Aged. Find out more here.

What happens if I don't write a will

If you live in England or Wales and don't write a will, your legacy may not be distributed as you would like.

One scenario that is very likely to cause problems is an unmarried couple. Unmarried partners cannot inherit from one another unless there is a will in place. This situation can be particularly painful when the surviving partner is left in financial difficulties at a distressing time.

If you are separated from a partner, but not divorced, and your former partner is living with someone else, there is a possibility that they will inherit your estate unless you have a will in place stating otherwise.

If you have children, it is important to have a will in place to ensure that your estate is distributed according to your wishes. The courts can, sometimes, redistribute an estate if there is a dispute but this is often a long and unpleasant process which can be easily avoided by writing a will and keeping it up to date.

If you leave no surviving blood relatives, your estate will go to the inland revenue.

Writing a will may take an afternoon of thought and hard work but it can make a huge difference to the people that matter to you.