The recent return of HBO’s House of the Dragon to our screens has once again captivated audiences with its intricate plot lines and dramatic twists. It’s certainly been received well, with Variety stating that season two was averaging nearly 25 total million cross-platform viewers.
Set more than 200 years before the events of Game of Thrones, the series chronicles a devastating civil war, ignited by a royal succession crisis.
While the series is a work of fiction, it does highlight some crucial estate planning issues that have real-world repercussions. With that in mind, continue reading to discover three lessons to ensure your legacy is protected.
1. Not having a clear and concise will
At the heart of the conflict in House of the Dragon is the ambiguous succession of the king, Viserys Targaryen.
After his first wife dies, he names his only child, Princess Rhaenyra, his heir. Over the next few years, she learns about statecraft and attends council meetings, allowing her to garner support.
However, when Viserys later marries Alicent Hightower and they have a son, the succession is thrown into question.
These events were the spark for the civil war, as the king’s children fight over who will become the next monarch.
All the chaos could’ve been avoided if the king had been more certain about his succession.
While your own estate plan likely wouldn’t cause a civil war, not making your wishes clear in your will could result in an inheritance dispute after you pass away.
Your will is a legal document that outlines how you want your assets distributed. If it isn’t clear and concise, your loved ones may find themselves embroiled in a dispute over your estate.
Since they won’t be able to make the most of your wealth until the dispute is resolved, they might not be able to pay for funeral costs and bills, ultimately affecting their standard of living.
The dispute might even have lasting adverse effects on their relationships. The grief and stress they’re experiencing from your passing, coupled with the dispute, could be the “perfect storm” of issues that amplify any negative emotions.
To prevent this, it’s crucial to lay out your wishes in your will in a way that is easy to understand. You might also want to view it as a “live” document and keep it updated, especially after an important life event, such as marriage, divorce, or welcoming a new child into the family.
This ensures that your wishes continue to align with your current circumstances, potentially helping to mitigate the chance of a dispute after you’re gone.
The Financial Conduct Authority does not regulate estate planning or will writing.
2. Not proving your mental capacity when you sign your will
Moments before King Viserys’ death in House of the Dragon, Alicent believes that her husband has changed his mind about the line of succession.
In reality, he was talking about a previous ruler, and it becomes clear that his mental capacity has severely deteriorated. Still, this becomes the basis for Alicent to name her son the new king, kick-starting the conflict.
Back in the real world, the Guardian reveals that family members are increasingly challenging the validity of wills, and commonly citing cognitive decline in the testator as their reason.
One of the stipulations for a will to be valid is that you must have the mental capacity to make it and understand the consequences of doing so.
This is why you might want to include a “capacity assessment” with your will to bolster its validity.
Essentially, this provides evidence that you had the mental capacity to make the will and clearly understood what you were signing. This is particularly important if you have a severe illness or a dementia diagnosis.
All you’ll need is a medical practitioner’s statement at the time you sign your will, and this will certify that your mental capacity hasn’t deteriorated.
This can reduce the possibility of a loved one challenging your will if they believe you weren’t in the right mind to sign it.
3. Not sitting down and discussing your wishes with loved ones
The escalating tensions within the Targaryen family in House of the Dragon centres around the growing distrust between the two factions.
This culminates during a feast between the family members, yet the issue of succession is never discussed openly and frankly. The king has made up his mind and refuses to elaborate on his decision, despite the fact that factionalism is clearly growing within his family.
The entire civil war might have been avoided if he had simply sat down with his loved ones and talked through his line of thinking.
Similarly, speaking to your loved ones ahead of your passing can be a useful step to avoid disputes.
If you have an open and honest discussion about your intentions, this could help your family members understand why you’ve divided your wealth in a certain way. It could also be a valuable opportunity to answer any questions they have about your estate.
Your loved ones might even have helpful insights you previously hadn’t considered, so a conversation could be the ideal time for them to share anything on their minds.
An alternative to this is to leave a “letter of wishes” alongside your will. While this isn’t legally binding, it lets you explain why you’ve made certain decisions, such as the division of your estate.
Ultimately, a letter of wishes could help to clear up any uncertainty or pre-emptively answer any questions your loved ones have about your intentions, further preventing disputes.
Get in touch
If you’re concerned about inheritance disputes after you pass away, we could help you organise your wealth for your loved ones’ benefit.
To find out more, please contact us by email at info@investmentsense.co.uk or call 0115 933 8433.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
