The High Court has ruled in a Probate dispute between the spouse of a deceased businessman and his family.
This ruling concerned the estate of Abbas Moaven, a property investor and restaurateur. At the centre of the dispute between his wife, Gabriela Texeira, and his family were four properties valued at around £5 million. His wife claimed they were part of his estate and that she and her children should inherit them. However, Moaven’s brother Amir and his mother argued that a declaration of trust proved joint ownership between them and the deceased.
A declaration of trust is a document setting out ownership of assets and is generally considered binding. In this case though, the court determined it was motivated solely by a desire to frustrate creditors and his spouse.
The High Court therefore ruled that the properties should be included within the estate. It is an important judgment for administrators like Probate solicitors in North Wales, but also for individuals with high-value assets.
Luke Middlehurst of Ashfords LLP told Today’s Wills and Probate the ruling shows solicitors must take a proactive approach to estate administration, adding:
“If there is credible evidence that estate assets have been wrongly diverted, concealed or placed beyond the estate through questionable documentation, simply standing aside may not be enough.”
The message for individuals who want to plan for their assets after death is that legal documents can be overturned based on the motives behind them.
For solicitors in Porthmadog who can administrate an estate professionally, call Bennett Smith Solicitors now.
