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Elizabeth Taylor's Will Dispute

I hear that a dispute has arisen over a share of the multi million pound estate left by the late silver screen legend Elizabeth Taylor.

Apparently, the Hollywood icon left £50,000 of her estate to a former husband in order to provide for his care in his current state of ill health.  However his two sisters are arguing over which of them should be appointed as his guardian and thus have control of his financial and legal affairs.

My first reaction to this news was: “which former husband”?. It’s a good job she had a few million in the bank. Otherwise, if she left a legacy of £50,000 to each of her ex-husbands, there might be little left for her other beneficiaries!

More seriously, however, it seems the dispute follows much wrangling and arguing amongst her family, prior to her death, about her succession.

It therefore highlights the vital importance of each of us having a valid will in place to provide legally enforceable directions at a time when we can no longer speak for ourselves.

At the same time as creating a will, it is also a good idea to have a professionally drafted Lasting Power of Attorney. This document allows you to appoint one or more individuals to handle your property, finances and welfare matters if you no longer have the capacity to do so yourself. It will not come into effect until it has been registered with the Court of Protection.