Just done mine started of with the idea of mirror wills — now all in trust - well worth doing relieved all done and dusted - superb company and went through everything - I would fully recommend doing trust and protecting everything for your kids
Ridiculously keep putting it off and due to no other reason than laziness. Me and my wife need to do this especially as our two grown up kids don't get on and haven't spoken for about four years. Don't know how them two would sort it out between them. Will sort soon, hopefully before we both die!!
Leave one of them the house. And the other one, the keys.
Done mine couple of weeks ago just a free one , left everything split 3 ways to the kids, it is there responsibility if they wish to give their kids anything when I am gone.I certainly wouldn't want my parents giving my kids anything at the moment as it would be spunked.
Did one when our son was born but really need to update it.
Having one just make's the process much more straightforward for whoever is left behind, as others have said.
Some of stories I hear from solicitors I work with are scary. Relatives get greedy or use the wills to take out long held grudges. Also for you, AFKA, there are particular arrangements you might need to consider carefully.
And for everyone else, remember as a registered charity all your legacy donations to the museum as tax free
I work at a firm with a probrate department, and a court of protection department. Whilst there's money to be made from people who don't make wills, it's not a lot of fun. Worth getting lasting powers of attorney in place as well, however much people don't like to think about it
What do you do if a beneficiary won’t accept their bequest?
That does happen mate. My wife's aunt got the hump when her Mum died. The estate was left to her 4 kids equally. She claimed her Mum told her that she would be getting everything but she was suffering with dementia at that time. Anyway 28 years ago her share of the estate was just over £28k. It is still sitting in the solicitor's client account as she refused to collect it. No idea what will happen to it when she passes away and there is nobody that can claim it
Did one when our son was born but really need to update it.
Having one just make's the process much more straightforward for whoever is left behind, as others have said.
Some of stories I hear from solicitors I work with are scary. Relatives get greedy or use the wills to take out long held grudges. Also for you, AFKA, there are particular arrangements you might need to consider carefully.
And for everyone else, remember as a registered charity all your legacy donations to the museum as tax free
I think I would be a worthy recipient of your promotes
Did one when our son was born but really need to update it.
Having one just make's the process much more straightforward for whoever is left behind, as others have said.
Some of stories I hear from solicitors I work with are scary. Relatives get greedy or use the wills to take out long held grudges. Also for you, AFKA, there are particular arrangements you might need to consider carefully.
And for everyone else, remember as a registered charity all your legacy donations to the museum as tax free
I think I would be a worthy recipient of your promotes
Ha, I was going to highlight the same and put ‘Promote Incoming’ :-)
So we tried again yesterday with the will. Weve spoke to our solicitor at least 3 times on the phone,every time the solicitor is telling us something new which is then leaving us with something to think about. Why not give us all the information in the 1st phone call and we then know where we are. And also it seems to me even when you've made your will , what I own may not end up where I want it to go.
So we tried again yesterday with the will. Weve spoke to our solicitor at least 3 times on the phone,every time the solicitor is telling us something new which is then leaving us with something to think about. Why not give us all the information in the 1st phone call and we then know where we are. And also it seems to me even when you've made your will , what I own may not end up where I want it to go.
Do you have kids , if yes just split it equally, I don't really see what else there is to think about, the only thing I added was if one of my kids had children and they died before me that share would go the their kids, I don't see if being difficult at all.
Not always easy. I have three grown up kids, have a girlfriend, she has three kids too & we are thinking of buying a house outright together! I would be putting in three times what she is! However if I died I would want to protect my investment to enable it eventually is left for my kids! Obviously she would need to stay in the house until she passed! Gives me a headache just thinking about it so have ignored up to now!
A few disjointed thoughts (and subject to the disclaimer that I'm not a lawyer)
It's worth bearing in mind that the law broadly doesn't recognise 'common law' partners when it comes to inheritance / intestacy so it's probably more important to do a will if you're in a relationship the law doesn't recognise.
I think an existing will is automatically made invalid if you get married or civil partnered or divorced or whatever the legal term is for ending a civil partnership.
If you want to leave something to a charity, make sure they are a charity and name them clearly - silly example but if you said you wanted to leave money to 'the cats home' then it wouldn't be clear which one you mean. (a solicitor ought to pick up on that sort of thing.)
And if you do want to leave a specific thing to a charity, or leave them money for a specific project, then it's best to talk to the charity first. I've seen difficulties arise (I've been involved with one or two transport museums) where someone has left a vehicle that needs of a lot of money spending on restoration to a museum that hasn't got the space for it, or when a small amount of money has been left on the condition it's spent on a huge project that the charity hasn't got the funds or the desire to do.
And if you're leaving actual things to a charity, then how many strings attached? A museum may welcome a rare item for display / archives, but if it duplicates something already in the collection, then the best thing the museum can do with it may be to sell it to raise funds.
Bigger charities will have someone who specialises in legacies, with smaller charities, the treasurer will probably have handled questions like this. And some charities have an arrangement with a friendly solicitor to do cheap / free wills (in the hope you'll leave something to the charity.)
As well as the 'shares rather than fixed amount' idea someone's mentioned, the other thing to think about is what you want to happen if a person you want to leave stuff to dies first or at the same time? Or if a charity closes down?
Not always easy. I have three grown up kids, have a girlfriend, she has three kids too & we are thinking of buying a house outright together! I would be putting in three times what she is! However if I died I would want to protect my investment to enable it eventually is left for my kids! Obviously she would need to stay in the house until she passed! Gives me a headache just thinking about it so have ignored up to now!
Your scenario is rather common & usually your girlfriend would have a "life interest" in the property which means she can stay living in it until she dies & then your kids inherit your share.
However, that then causes problems because if she is still quite young your kids might not inherit anything for another 30 or 40 years.
My personal advice, as a twice divorced father of 3, would be not to tie yourself in to anyone again if you want your kids to inherit the money you have built up over the years.
Just done mine started of with the idea of mirror wills — now all in trust - well worth doing relieved all done and dusted - superb company and went through everything - I would fully recommend doing trust and protecting everything for your kids
Who did you use? I need to get mine sorted soon and am looking around. Ta
So we tried again yesterday with the will. Weve spoke to our solicitor at least 3 times on the phone,every time the solicitor is telling us something new which is then leaving us with something to think about. Why not give us all the information in the 1st phone call and we then know where we are. And also it seems to me even when you've made your will , what I own may not end up where I want it to go.
Do you have kids , if yes just split it equally, I don't really see what else there is to think about, the only thing I added was if one of my kids had children and they died before me that share would go the their kids, I don't see if being difficult at all.
A lot of people's personal and financial circumstances are much more complicated than that.
If you do make a will, make sure that you sign it and get it witnessed. Otherwise your choices do not have to be honoured after you pass.
and if you are doing it yourself rather than involving a solicitor, i think the rules say that the witness/es can't be anyone who stands to inherit anything...
I've been looking at setting up a will as haven't got one in place and with 2 young children it's definitely time i did!
The wills for my wife and I will likely be very straightforward, and I've read that it is sensible to get a will through a solicitor, rather than a specialist will writer, does anyone have any experience of this? I haven't looked into it fully yet but assume will writers are cheaper, but there are benefits to using a solicitor for such an important document.
Just to say I am half way though studying a course on Will Writing & Inheritance Planning. Mainly for my own interest but also looking at future opportunities. If I need to find clients in the future I know where to start now.
The will itself is £325 +VAT which is what I expected.
Adding in four LPAs (lasting power of attorney for financial and welfare x 2 for me and Lady Irving) bumps the cost up considerably but having not done that for my parents or in-laws I'd rather do it now than leave it until one or both of us are doolally.
Found out that there is a national will register which means that if you can't find a will you can ask any solicitor to check the register and as long as it's been put on the register it will be available to you. A good idea considering it may be decades before you (or probably your next of kin) need to locate it.
I can give you the solicitor's name via inbox if you want it.
The will itself is £325 +VAT which is what I expected.
Adding in four LPAs (lasting power of attorney for financial and welfare x 2 for me and Lady Irving) bumps the cost up considerably but having not done that for my parents or in-laws I'd rather do it now than leave it until one or both of us are doolally.
Found out that there is a national will register which means that if you can't find a will you can ask any solicitor to check the register and as long as it's been put on the register it will be available to you. A good idea considering it may be decades before you (or probably your next of kin) need to locate it.
I can give you the solicitor's name via inbox if you want it.
Will I still have parking rights on the "Irving Estate" when you pass? Need to know for when I next meet TL in Bromley
The will itself is £325 +VAT which is what I expected.
Adding in four LPAs (lasting power of attorney for financial and welfare x 2 for me and Lady Irving) bumps the cost up considerably but having not done that for my parents or in-laws I'd rather do it now than leave it until one or both of us are doolally.
Found out that there is a national will register which means that if you can't find a will you can ask any solicitor to check the register and as long as it's been put on the register it will be available to you. A good idea considering it may be decades before you (or probably your next of kin) need to locate it.
I can give you the solicitor's name via inbox if you want it.
You don't need a solicitor for LPoA's - it's really easy, all forms online, complete, send off, job done.
The will itself is £325 +VAT which is what I expected.
Adding in four LPAs (lasting power of attorney for financial and welfare x 2 for me and Lady Irving) bumps the cost up considerably but having not done that for my parents or in-laws I'd rather do it now than leave it until one or both of us are doolally.
Found out that there is a national will register which means that if you can't find a will you can ask any solicitor to check the register and as long as it's been put on the register it will be available to you. A good idea considering it may be decades before you (or probably your next of kin) need to locate it.
I can give you the solicitor's name via inbox if you want it.
You don't need a solicitor for LPoA's - it's really easy, all forms online, complete, send off, job done.
No, and I recently did one myself but you will be wise to get a solicitor to witness it and be the certificate provider (or an independent Social Worker, such as Ben at Nellie Supports) so that their evidence will confirm that the subject of the application had the capacity to make the decision. Saves a lot of time if there is a dispute later.
Far better to plan ahead and make an LPA than to apply for Deputyship.
Comments
Having one just make's the process much more straightforward for whoever is left behind, as others have said.
Some of stories I hear from solicitors I work with are scary. Relatives get greedy or use the wills to take out long held grudges. Also for you, AFKA, there are particular arrangements you might need to consider carefully.
And for everyone else, remember as a registered charity all your legacy donations to the museum as tax free
Weve spoke to our solicitor at least 3 times on the phone,every time the solicitor is telling us something new which is then leaving us with something to think about.
Why not give us all the information in the 1st phone call and we then know where we are.
And also it seems to me even when you've made your will , what I own may not end up where I want it to go.
Do you have kids , if yes just split it equally, I don't really see what else there is to think about, the only thing I added was if one of my kids had children and they died before me that share would go the their kids, I don't see if being difficult at all.
However, that then causes problems because if she is still quite young your kids might not inherit anything for another 30 or 40 years.
My personal advice, as a twice divorced father of 3, would be not to tie yourself in to anyone again if you want your kids to inherit the money you have built up over the years.
I'd casually mentioned I needed to update my will so he followed up today.
Will get it done now.
and if you are doing it yourself rather than involving a solicitor, i think the rules say that the witness/es can't be anyone who stands to inherit anything...
The wills for my wife and I will likely be very straightforward, and I've read that it is sensible to get a will through a solicitor, rather than a specialist will writer, does anyone have any experience of this? I haven't looked into it fully yet but assume will writers are cheaper, but there are benefits to using a solicitor for such an important document.
The will itself is £325 +VAT which is what I expected.
Adding in four LPAs (lasting power of attorney for financial and welfare x 2 for me and Lady Irving) bumps the cost up considerably but having not done that for my parents or in-laws I'd rather do it now than leave it until one or both of us are doolally.
Found out that there is a national will register which means that if you can't find a will you can ask any solicitor to check the register and as long as it's been put on the register it will be available to you. A good idea considering it may be decades before you (or probably your next of kin) need to locate it.
I can give you the solicitor's name via inbox if you want it.
Need to know for when I next meet TL in Bromley