Will-substitutes in England and Wales
Will-substitutes, that is to say mechanisms that are functionally equivalent to wills, are very common in the US, where much of the wealth is transferred on death by means other than wills, and thus outside traditional probate procedures. The purpose of this chapter is to investigate whether this is...
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| Format: | Book section |
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Hart Publishing
2016
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| _version_ | 1797087754359668736 |
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| author | Braun, A |
| author2 | Braun, A |
| author_facet | Braun, A Braun, A |
| author_sort | Braun, A |
| collection | OXFORD |
| description | Will-substitutes, that is to say mechanisms that are functionally equivalent to wills, are very common in the US, where much of the wealth is transferred on death by means other than wills, and thus outside traditional probate procedures. The purpose of this chapter is to investigate whether this is the case also in England and Wales. This chapter explores some of the most common mechanisms used, the rationale behind their use, as well as the consequences that arise from their proliferation. In doing so, it considers will-substitutes from different perspectives, including those of creditors and family members and dependants. It argues that the current state of the law in England and Wales is unsatisfactory and that it is time for a debate involving non-probate transfers and their relationship with current succession laws. |
| first_indexed | 2024-03-07T02:40:11Z |
| format | Book section |
| id | oxford-uuid:aa2d1671-fdf6-4058-af5a-9083aa508baf |
| institution | University of Oxford |
| last_indexed | 2024-03-07T02:40:11Z |
| publishDate | 2016 |
| publisher | Hart Publishing |
| record_format | dspace |
| spelling | oxford-uuid:aa2d1671-fdf6-4058-af5a-9083aa508baf2022-03-27T03:13:24ZWill-substitutes in England and WalesBook sectionhttp://purl.org/coar/resource_type/c_3248uuid:aa2d1671-fdf6-4058-af5a-9083aa508bafSymplectic Elements at OxfordHart Publishing2016Braun, ABraun, ARöthel, AWill-substitutes, that is to say mechanisms that are functionally equivalent to wills, are very common in the US, where much of the wealth is transferred on death by means other than wills, and thus outside traditional probate procedures. The purpose of this chapter is to investigate whether this is the case also in England and Wales. This chapter explores some of the most common mechanisms used, the rationale behind their use, as well as the consequences that arise from their proliferation. In doing so, it considers will-substitutes from different perspectives, including those of creditors and family members and dependants. It argues that the current state of the law in England and Wales is unsatisfactory and that it is time for a debate involving non-probate transfers and their relationship with current succession laws. |
| spellingShingle | Braun, A Will-substitutes in England and Wales |
| title | Will-substitutes in England and Wales |
| title_full | Will-substitutes in England and Wales |
| title_fullStr | Will-substitutes in England and Wales |
| title_full_unstemmed | Will-substitutes in England and Wales |
| title_short | Will-substitutes in England and Wales |
| title_sort | will substitutes in england and wales |
| work_keys_str_mv | AT brauna willsubstitutesinenglandandwales |