Hoping for a bit of assistance with some research for creative writing purposes. Any and all assistance is appreciated - I believe firmly in researching for authenticity, so am hoping with fingers crossed someone here may help.
Is there a circumstance in which a “successful”(ie wealthy) business person could disinherit an adult child with a criminal history and estranged relationship, and leave their estate indisputably with another close personal beneficiary, as the sole beneficiary? Would this person be considered the “executer” of the will as well, or would a solicitor be responsible for that?
Can this business person leave not only their physical real estate and possessions, but also their businesses, stocks and so on, with their chosen sole beneficiary?
Would it be possible for the (deceased) estate holder/owner to have transferred their assets and businesses to their beneficiary before death to assure asset “safety”, or is there a world of tax and financial offset that would make this an unviable/unfavourable option, where the beneficiary would be better off waiting for an executed will instead? Is that even legal?
In such a case, how would one protect their assets, business and estate to enable a transfer smoothly to their chosen beneficiary without huge financial implications, either while they were alive or after their passing? Would a trust serve as an appropriate format for this, to protect business ownership and control, as well as properties and so on?
I am just getting my head around some legal implications for this research plot, so I do hope I make a degree of sense with context and so on.
Is there a circumstance in which a “successful”(ie wealthy) business person could disinherit an adult child with a criminal history and estranged relationship, and leave their estate indisputably with another close personal beneficiary, as the sole beneficiary? Would this person be considered the “executer” of the will as well, or would a solicitor be responsible for that?
Can this business person leave not only their physical real estate and possessions, but also their businesses, stocks and so on, with their chosen sole beneficiary?
Would it be possible for the (deceased) estate holder/owner to have transferred their assets and businesses to their beneficiary before death to assure asset “safety”, or is there a world of tax and financial offset that would make this an unviable/unfavourable option, where the beneficiary would be better off waiting for an executed will instead? Is that even legal?
In such a case, how would one protect their assets, business and estate to enable a transfer smoothly to their chosen beneficiary without huge financial implications, either while they were alive or after their passing? Would a trust serve as an appropriate format for this, to protect business ownership and control, as well as properties and so on?
I am just getting my head around some legal implications for this research plot, so I do hope I make a degree of sense with context and so on.
