Families urged to record final wishes

Financial advisers are urging people to record who should inherit sentimental possessions, warning that informal promises over family heirlooms can lead to bitter disputes after death. The warning comes as planners say arguments over items such as jewellery, watches and family keepsakes often cause more conflict than disputes over money, despite their relatively low financial value.

Rowley Turton director Scott Gallacher said many disagreements stem from promises made years earlier that were forgotten, misunderstood or repeated to more than one family member. “The biggest inheritance disagreements aren’t always about money. They’re often about the things people believed had already been promised to them.”

Gallacher has developed a Promised Gifts Log to help people record which sentimental possessions they intend to leave to specific beneficiaries and why. He said the document was designed to complement, rather than replace, a will. This approach can help reduce the risk of family conflict.

They created this document to provide clarity. It includes details about the item and the intended recipient.

Rootes Wealth Management independent financial adviser Rob Mansfield said documenting intentions was one of the simplest ways to reduce the risk of family conflict. “If it’s not written down, it didn’t happen. A promise years ago can easily be forgotten or misremembered. Being as clear as you can and documenting your wishes all help guard against that.”

Roxton Wealth practice principal Nouran Moustafa said sentimental possessions often carried far greater emotional weight than their market value. “A £200 watch can carry more emotional weight than a £20,000 investment.” She said a written record should include a description or photograph of the item, the intended recipient, the reason for the gift and the date, while being reviewed after major life events to ensure it remains up to date.

Mint Wealth independent financial adviser David Stirling said inheritance disputes often stemmed from casual conversations that took place decades earlier. “The argument is never really about the object. It is about what the object represents, and that is a much harder thing to divide fairly.”

Zmartly founder and chief executive Harvey Dhillon said many inheritance disputes over personal possessions never reached the courts because they were settled privately, if at all. “The reason low-value things cause the worst trouble is that nobody is arguing about the money. They are arguing about who was closest to the person who died.”

According to the report, a letter of wishes or a simple written record alongside a will could remove much of the uncertainty that often fuels family disputes after a loved one’s death.

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