In a contentious court battle, two siblings successfully challenged their father’s will, which left them significantly less inheritance than their brothers.
Multi-millionaire Reg Bond, who built a £55 million empire from rubber tyres, passed away at age 77 in March 2021. His final will, made in November 2019, allocated nearly all of his remaining £12.5 million estate to his sons Charlie and Graham, leaving his other son Mike and daughter Lindsay with just £325,000 each.
Mike, 53, and Lindsay, 56, disputed the validity of this will, arguing that their father lacked the mental capacity to understand his actions due to his deteriorating health. Witnesses testified that Mr. Bond was confused and forgetful at the time of signing. Conversely, Charlie and Graham maintained that their father was still active, even working out in the gym and planning to drive a new Bentley.
After a four-week trial, Mr. Justice Michael Green ruled in favour of Mike and Lindsay. He concluded that Charlie and Graham failed to prove Mr. Bond had the mental capacity to make the 2019 will. The judge reinstated a previous 2017 will, which evenly distributed Mr. Bond’s assets among all four children.
Mr. Bond’s success story began when he used £350 compensation for an eye injury to start a car parts business, eventually creating Bond International Tyres, one of the UK’s largest wholesalers. He later ventured into horse racing, producing several winning horses.
In 2017, Mr. Bond began estate planning, initially dividing £43.45 million in shares equally among his four children. However, his 2019 will significantly altered this distribution, favouring Charlie and Graham.
Penelope Reed KC, representing Mike and Lindsay, argued that Mr. Bond had always treated his children equally and that his final will did not reflect his true intentions. The court heard that Mr. Bond had suffered significant health issues, including a brain tumour and complications from a fall, which left him needing full-time care.
Clare Stanley KC, representing Charlie and Graham, contended that Mr. Bond had been generous with his previous gifts and that his final will was valid, supported by doctors’ records and videos showing his active lifestyle.
However, the judge found insufficient evidence that Mr. Bond understood the implications of his final will, which diverged significantly from his previous wills. He urged the family to reconcile and avoid further legal conflict, expressing sadness over the familial discord.
The court’s decision reinstates the 2017 will, ensuring an equal distribution of Mr. Bond’s assets among his four children, reflecting the principle of fairness Mr. Bond had historically upheld.
Credit: TodaysWillsandProbate
