News and Insights

Encouraging our clients to start imagining their own deaths might seem like a rather strange exercise, however, it is fundamental to what you leave behind.

But what do we mean by legacy?

A legacy is what we leave behind when we die. Even if we are forgotten and our work along with us, legacy remains. Legacy is not just how we are remembered, it is what actually remains on earth after we die. So, for the vast majority of us, the legacy we wish to leave behind will be one which benefits those family members, friends and causes close to our hearts.

A legacy may come in a variety of forms, and it does not have to be a cash gift. Family heirlooms carry the weight of so many past lives lived, and experiences had. When we decide to pass down personal items such as jewellery, artwork, vehicles and other belongings, we are passing on the stories attached to those items. Even the smallest of gifts that do not necessarily carry any monetary benefit and may carry enormous amounts of sentimental value to your loved ones. You may also think of passing down personal items like photos, recipes and other keepsakes.

What will be your legacy?

Most of us don’t think about our own death, much less the legacy we might leave. Viberts see all too often that individuals do not specify personalised legacies in their will, or indeed do not write a will at all. As a result, there is no guarantee that the loved ones or causes that they had hoped to benefit will receive anything. The easiest way to ensure that your legacy is protected is by ensuring you have an up-to-date will in place. This ensures those you wish to benefit, do in fact benefit, and those you do not wish to benefit, don’t. But where do you start?

Making a will

A will, or a last will and testament, is a legal document that describes how you wish for your property and personal assets (collectively known as your “estate”) to be distributed after your death. It is possible to write your own will, but even simple wills must comply with legal formalities and just one mistake can invalidate it. It is therefore advisable that a Jersey lawyer be instructed to draw up your will for your assets in Jersey.

In Jersey there are two types of property, immovable and movable.  Immovable will usually be your home or any other property that you own that is situate in Jersey (excluding share transfer properties however as these are deemed to be movable property).

Movable property is your cash, shares, jewellery, household contents or anything else that you can physically pick up.

It is usual therefore to have two wills, one dealing with your movable estate and one dealing with your immovable estate.

You will need to appoint an executor or executors of your movable will and their role is to execute the wishes in your will and distribute your estate to those you have left it to. An executor will also  apply for a Grant of Probate. This is the permission of the Court to distribute your estate. But are the executors you have in mind right for the role? Viberts commonly see instances where the chosen executors were fine at the point that they were chosen, but for one reason or another are no longer either able to act in that capacity, or have issues in doing so. In choosing your executor you may wish to consider that at the point of your death, it may be extremely distressing for your direct heirs to have to deal with your estate, as well as you death.

It is therefore important to make things easier for your executors by ensuring that your affairs are in order and those documents which may prove useful to your executors are easily accessible. This could include financial and personal insurance policies, statements for financial accounts which cover things like savings, pensions or investments, documents proving ownership, such as property mortgages, balance statements for outstanding debts and passwords for access to your digital assets and profiles. Should you die without leaving your affairs in reasonable order, it will often be your close family members who will suffer because of this.

It is important that your will reflects your personal wishes, however legal advice should always be sought to ensure your that will accords with Jersey’s estate and succession laws.

Keep on giving

You may define your life by the acts of service you have offered to others, and it’s possible to ensure these services continue even after you’re gone. It is possible to make charitable contributions in your will to continue to help others. Generosity is a beautiful way to be remembered.

Choosing a final resting place

There’s some comfort in knowing that once we have passed, people can still visit us. Whether you decide to be interred, buried in a cemetery or scattered at sea, our final resting place is a reminder to our loved ones that you were once living. Whatever your decision, assisting your loved ones by specifying any specific funeral wishes will make the healing process that little bit easier. It is also very difficult to know if it isn’t written down or you haven’t discussed it.

What if our personal circumstances change?

Everyone’s financial and non-financial circumstances change over time, and so may our personal views or connections. It is not possible to predict when we will die, nor is it possible to predict as and when we may have accidents or illnesses that affect our mental capacity and in turn our ability to amend our will. Viberts recommend making a will as soon as reasonably possible and that your will be regularly reviewed in line with major life events to ensure they reflect your current wishes.

Where do I begin?

Processing your death can be a difficult task, however Viberts are here to assist you in figuring out how to help your legacy live on so you may have a positive and genuine impact on those family members, friends and causes close to your heart.  

Viberts’ private client team can assist with all aspects of Wills, estate and succession planning.