Help getting on the property ladder and toward the cost of the wedding.
Except for property and vehicle purchases, the most money any of us will spend on a single day of our life is the day we get married. Current estimates suggest that when totting up the cost afterward, it is not unusual for the bill to fall somewhere in excess of £20,000, and with average house prices holding steady above the £200,000 mark, many of us will be eternally grateful recipients of a large deposit into our accounts at just the right time from our parents. Had we not, we would be living in smaller properties and our wedding days would have been far more modest affairs.
By contrast, there are those who tragically lose a parent prematurely in death. The surviving parent has just the same desire to help, but probably now lacks the means to do so now, or in the foreseeable future.
However, there may be a silver lining.
In what appears to be a landmark decision, a recent High Court decision in a fatal accident claim recognised the parental role in such life events and awarded a figure of £42,000 to three children for the loss of their late father’s contribution to these future expenses. What makes this particularly interesting is that two of the children were only twelve years old when they lost their father; and the other was his son from a previous marriage. In each case, the Court ruled that a significant contribution was appropriate. Furthermore, when it came to paying for weddings (all three children were male) the Judge plainly dismissed the 20th century notion that it is still “the father of the bride who pays”.
Parental gifts are a recognised loss and should always be discussed and considered when advising a family of the impact of their loved one’s death. If you have lost a loved one and are considering your options, it makes sense to seek the advice of a specialist.
Associate, Chartered Legal Executive