Eleanor StoneCardinal Robert Francis Prevost became Pope Leo XIV in May 2025 — the first American-born pope in the 2,000-year history of the Catholic Church. As 2026 marks his first full year leading 1.4 billion Catholics worldwide, his election has prompted a broader question that affects far more people than just the devout: what happens to an institution's legal and financial affairs when its leadership changes? And what does that mean for ordinary individuals when facing their own legacy transitions?
A Historic Change at the Top
Pope Leo XIV, born in Chicago and raised in Dolton, Illinois, was elevated to the papacy after a conclave that surprised many Vatican observers. His background — as an Augustinian friar, bishop in Chiclayo, Peru, and head of the Vatican's dicastery responsible for appointing bishops — made him a consensus candidate between conservative and progressive factions.
His election marked not just a change of person but a structural transition: a new pontiff sets new priorities for one of the world's most complex organisations, managing assets estimated by The Economist at over $10 billion globally, including real estate, art collections, and financial portfolios. According to the Vatican's official financial reporting, the Holy See reported revenues of €877 million in 2023 alone.
What Institutions Teach Us About Estate Planning
The transition from Pope Francis to Pope Leo XIV illustrates a fundamental principle of good governance: leadership changes must be planned for, not reacted to. This applies equally to families, small businesses, and private estates.
When a leader — whether a pope, a company director, or a family patriarch — passes away or steps down without adequate succession planning, several problems can emerge:
- Disputed inheritance: Without a valid will, assets may be distributed according to intestacy rules rather than the deceased's wishes
- Delayed estate administration: In England and Wales, estates without a will can take 12 to 18 months longer to settle, according to data from HM Courts & Tribunals Service
- Relationship strain: Unclear succession often triggers disputes between family members, even in otherwise close families
Wills and Succession: The Numbers Are Stark
Despite the obvious risks, most adults in the United Kingdom do not have a valid will. According to a 2024 survey by Canada Life, 54% of UK adults have no will in place. Among those aged 55–64 — a group with significant accumulated assets — the figure remains above 40%.
The consequences can be severe. Dying intestate (without a will) in England and Wales means your estate passes according to the Intestacy Rules. An unmarried partner, regardless of how long you have been together, receives nothing. Step-children who are not legally adopted receive nothing. Charitable causes you cared about receive nothing.
The law is clear, but it is rarely convenient.
When Leadership Changes: What a Solicitor Can Do
Just as Pope Leo XIV has advisors managing the transition of papal governance, individuals navigating estate changes benefit greatly from professional legal advice. A solicitor specialising in wills and estate planning can help you:
Draft or update your will. A will drafted without legal advice is more likely to be challenged or deemed invalid. Solicitors ensure it meets all legal requirements and reflects your true intentions.
Set up Lasting Powers of Attorney (LPA). An LPA allows a trusted person to manage your financial or health decisions if you become unable to do so — a safeguard that becomes urgent after a sudden health event.
Advise on inheritance tax. With the Inheritance Tax threshold (nil-rate band) frozen at £325,000 until at least 2028 and house prices continuing to rise, more estates than ever are liable. A solicitor can structure your estate to minimise the tax burden.
Manage trust arrangements. For complex estates or blended families, trusts can protect assets across generations in a way that a simple will cannot.
Succession Planning Is Not Just for the Wealthy
One misconception about estate planning is that it is only relevant for the wealthy or elderly. In reality, anyone who owns property, has children, or holds a pension has something meaningful to protect.
The election of Pope Leo XIV — a historically surprising choice from an unlikely background — is a reminder that major transitions can come when least expected. The organisations and individuals who fare best are those who have prepared for change in advance.
The Right Time to Seek Legal Advice
If you do not currently have a valid will, or if your will has not been reviewed since a major life event (marriage, divorce, new children, significant purchase), now is a practical time to consult a legal expert.
A solicitor can review your current situation, identify gaps in your protection, and ensure your wishes will be carried out — whatever the future holds. Expert Zoom connects you with qualified solicitors across the United Kingdom who specialise in wills, trusts, and estate planning.
Legal notice: This article is for general informational purposes only and does not constitute legal advice. For advice tailored to your situation, please consult a qualified solicitor.
