The wisdom of back-up plans in wills – Jayne Adams illustrates the importance of a “common tragedy” clause

Charities partner Jayne Adams was invited by Third Sector to address an often overlooked situation when it comes to writing a will. Jayne uses the example of Mr Richard Cousins who, before he and his sons tragically died in a seaplane crash last year, had written a “common tragedy” clause in his will that upon the rare circumstance of a family-wide tragedy his sons’ inheritance should be donated to charity. Jayne stresses how this rather dreary foresight can be hard to stomach, but that, otherwise, if such a circumstance arises, your property is likely to be distributed under the intestacy rules and not as you would have chosen. Charities are often desirable longstop beneficiaries.

The full article can be read on the Third Sector website by clicking here.