Mr & Mrs Kempton are both in their 60s and have been married for 10 years. Both have one child from a previous relationship. They have a taxable estate, but their main concern is to provide for each other, while also making sure that their respective children from the first relationship do not lose out.
Mr and Mrs Kempton could create mirror Wills now, which leave everything to each other on first death, and then everything equally to the two children in equal shares. However, there is nothing to stop the surviving spouse deciding to change their Will after first death to ensure that their child benefits from the majority, or even the whole, of the estate on second death. The disappointed child would be left in a position where they might have to make a claim against the estate in order to benefit, and there is no guarantee that they would be entitled to any assets.
We see this kind of scenario regularly, and our solicitors are well prepared to talk you through protective trust structures which could ensure that the child of the first to die will eventually benefit to some extent.