How do children's Legal rights affect me?
Children’s legal rights apply in Scotland. Your children are entitled to one third of your moveable estate when the first spouse dies and half of the moveable estate when the second spouse dies. It is likely that a child’s share will in future also include your house. The Scottish Government have consulted on this and it is now under consideration.
To make it worse, children have to be located and advised of exactly how much they are due. Solicitors are not allowed to ignore them and just pay out in terms of your Will. Children have 20 years to claim. So a large part of the estate can be held in limbo for a very long time.
Now the good news. You can protect your assets in a McClure Family Protection Trust. There is no 6 year period as in England and Wales. If your assets are in a Trust before you die, the children have no legal rights claim.
In summary you can’t cut your children out of your Will. However you can cut them out of your estate with a McClure Family Protection Trust.
Just contact us to find out more. Our advice is free and home visits are available.