Bernard Matthews, the late Norfolk-based entrepreneur who made a multi-million pound fortune from turkey products, has underlined how a will provides the maker with a vital opportunity for dividing their estate in the way they wish.
Probate documents published last month show that he left 38 per cent of his 39 per cent holding in the business to his son Frederick Elgershuizen, who was born during an eight-year relationship with a Dutch woman that began in the 1970s.
Frederick now holds a larger stake in the business that Mr Matthews’ widow, Joyce – with whom he built up the turkey business and adopted three children, and from whom he was never divorced – who owns a 32 per cent share.
Mr Matthews’ remaining one per cent of the company will be owned by his former personal assistant Carolyn Claussen. He also left £1 million to his long-term partner Odile Marteyn.
Although they are not named in probate documents, it is believed that Mr Matthews had previously made financial provision for the rest of his family.
Mike Rapps, head of Gregg Latchams’ Estate Planning & Tax department, said: “As an astute businessman with a high value estate – and some might see as an unconventional private life – Mr Matthews would been very well aware of how vital it was that he made a will.
“The provisions he made may seem a little surprising to some, but that highlights the value of a will in allowing you to decide how to distribute your assets exactly as you wish. Had Mr Matthews failed to make a will, his assets would have been distributed very differently.
“Few of us are fortunate enough to enjoy Mr Matthews’ wealth but it makes sense for everybody to make a will, so that you can be absolutely sure that the people you want to benefit on your death will do so. Working with a solicitor experienced in estate planning will also make sure that you receive expert advice and that your will is properly drafted.”
For more information, please contact the Estate Planning & Tax department.
