Stive Pesley Posted January 16, 2017 Share Posted January 16, 2017 Now I’m officially in my late 40s I really should stop talking about writing a will one day, and actually get on and sort it out. Trouble is I have no idea where to start, and despite googling it I can’t seem to differentiate between what’s legit and what’s a rip-off I don’t think I have an especially complicated life – married, two kids, home owner and all that. How hard can it be?? Anyone got any tips? Link to comment Share on other sites More sharing options...
Tony Le Mesmer Posted January 16, 2017 Share Posted January 16, 2017 Go to a solicitor, draw one up. Pay about 200 quid and bobs yer uncle. At least that's my experience of it. If you need to amend it at any point afterwards though they charge. I also think you need a witness but not sure. I forgot. Link to comment Share on other sites More sharing options...
Wolfie Posted January 16, 2017 Share Posted January 16, 2017 Have a look at this... http://www.moneysavingexpert.com/family/free-cheap-wills Mrs Wolfie keeps nagging me about us making one but it's one of those things you never get round to. Last year, we looked into this http://www.willaid.org.uk/ ....but didn't quite get motivated to actually doing it. Link to comment Share on other sites More sharing options...
Gaspode Posted January 16, 2017 Share Posted January 16, 2017 You can certainly do it yourself, but that can leave you (or more specifically, those who survive you) open to issues after you're gone...you need to think about quite a few things, such as where your estate goes/how it gets split, who will look after your kids if something happens to both of you, do the kids get it all or is it left in trust until they're old enough to be sensible spending your millions etc - even relatively simple can become complicated.... My advice would be to get one drawn up by a professional (though I assume you'd actually want 2 'mirror' wills - one for yourself & one for the missus as you have kids). We did ours a few years ago via one of the charity will-making schemes (where the money goes to a charity rather than the solicitor)..... There's some info here about keeping the costs down (though obviously, I've no idea how good the advice is...): http://www.moneysavingexpert.com/family/free-cheap-wills Link to comment Share on other sites More sharing options...
Angry Ram Posted January 16, 2017 Share Posted January 16, 2017 Toyed with the idea of writing one myself and even bastardised the format of my late dads.. I guess it might have served a purpose but when my mother died recently the Will was crucial that there was no ambiguity in the wording and your wishes. A lot will depend on how complicated your circumstances are, it's not always as simple as I leave it to the kids believe me. I have a dick of a brother and I acted as an executor on my mothers estate.. She never asked him for various reasons but without a robust strong will setting out your clear wishes it would have been a nightmare.. I have now spent money on getting a professional to do mine and he picked up on loads of things I would never have thought of. Simple things really but huge things if certain things would have played out. Money well spent in my opinion. You also need to keep it updated.. Very important, circumstances change etc. The only thing I think is a complete waste of huge amounts of money is getting a solicitor to act as an executor. It really is not that hard, keep that in house if you can. Link to comment Share on other sites More sharing options...
Gaspode Posted January 16, 2017 Share Posted January 16, 2017 8 minutes ago, Wolfie said: Have a look at this... http://www.moneysavingexpert.com/family/free-cheap-wills Mrs Wolfie keeps nagging me about us making one but it's one of those things you never get round to. Last year, we looked into this http://www.willaid.org.uk/ ....but didn't quite get motivated to actually doing it. Beat me to it.... Link to comment Share on other sites More sharing options...
David Posted January 16, 2017 Share Posted January 16, 2017 If my Mrs started pushing me to make a will I would leave her immediately as I wouldn't be able to trust her cooking ever again. Link to comment Share on other sites More sharing options...
Stive Pesley Posted January 16, 2017 Author Share Posted January 16, 2017 3 minutes ago, David said: If my Mrs started pushing me to make a will I would leave her immediately as I wouldn't be able to trust her cooking ever again. Haha - well my Mrs has seen my pension statement and knows that I'm worth a lot more to her dead than alive, so if she was going to do it she'd have done it by now! Cheers for all the tips everyone - I'll do some more digging Link to comment Share on other sites More sharing options...
King Kevin Posted January 16, 2017 Share Posted January 16, 2017 2 hours ago, Angry Ram said: Toyed with the idea of writing one myself and even bastardised the format of my late dads.. I guess it might have served a purpose but when my mother died recently the Will was crucial that there was no ambiguity in the wording and your wishes. A lot will depend on how complicated your circumstances are, it's not always as simple as I leave it to the kids believe me. I have a dick of a brother and I acted as an executor on my mothers estate.. She never asked him for various reasons but without a robust strong will setting out your clear wishes it would have been a nightmare.. I have now spent money on getting a professional to do mine and he picked up on loads of things I would never have thought of. Simple things really but huge things if certain things would have played out. Money well spent in my opinion. You also need to keep it updated.. Very important, circumstances change etc. The only thing I think is a complete waste of huge amounts of money is getting a solicitor to act as an executor. It really is not that hard, keep that in house if you can. Spot on AR ,do not let a solicitor act as executor ,they all charge a fair percentage of the estate and some will writers sell on the role of executor to other third parties that take a gamble on being in possession of the executor role on execution of the will therefore the income . Link to comment Share on other sites More sharing options...
Angry Ram Posted January 16, 2017 Share Posted January 16, 2017 24 minutes ago, King Kevin said: Spot on AR ,do not let a solicitor act as executor ,they all charge a fair percentage of the estate and some will writers sell on the role of executor to other third parties that take a gamble on being in possession of the executor role on execution of the will therefore the income . Cash cow for them.. We gave a solicitor over 40k on my Aunts estate. They did feck all, I did all the running around, I sold the property. Unfortunately everyone thinks it is difficult. Lots of form filling but all the info is there to help you. The help lines were great as well. Link to comment Share on other sites More sharing options...
DEL Posted January 16, 2017 Share Posted January 16, 2017 Just make sure you are doing the right thing. Link to comment Share on other sites More sharing options...
Wolfie20 Posted January 16, 2017 Share Posted January 16, 2017 3 hours ago, StivePesley said: Haha - well my Mrs has seen my pension statement and knows that I'm worth a lot more to her dead than alive, so if she was going to do it she'd have done it by now! Cheers for all the tips everyone - I'll do some more digging Start worrying if the missus wants to help with the digging! Seriously though, it's not the most pleasant thing to do but I would strongly recommend that everyone with any assets get a will registered. Failure to do so can potentially leave a minefield for those left behind and for most people it's the last thing they need to get involved in sorting out so soon after losing a loved one. Link to comment Share on other sites More sharing options...
Sith Happens Posted January 16, 2017 Share Posted January 16, 2017 I havent written one but always fancied putting in mine that i had to be taken on holiday and carted around, something like a weekend at bernies Not sure i would get away with it though. Link to comment Share on other sites More sharing options...
King Kevin Posted January 16, 2017 Share Posted January 16, 2017 Horrible thought but if anyone has a relative with dementia think about lasting power of attorney .Once the unfortunate person gets to the stage where they are unable to act for themselves it is an absolute nightmare for the remaining partner .Again take good advice. Link to comment Share on other sites More sharing options...
Mostyn6 Posted January 16, 2017 Share Posted January 16, 2017 I would advise you make sure you get your wishes written down and witnessed. A good friend of mine died on Christmas Eve, having spent years telling all his mates what his wishes were when he died, sadly he didn't ever get this written down in a will. When his daughter turned up two days before he died, realised he was medicated off his tits, got in a solicitor to write a will, not including his wishes about his funeral etc. She has done absolutely everything he expressly didn't want. Link to comment Share on other sites More sharing options...
Stive Pesley Posted January 16, 2017 Author Share Posted January 16, 2017 38 minutes ago, Paul71 said: I havent written one but always fancied putting in mine that i had to be taken on holiday and carted around, something like a weekend at bernies Not sure i would get away with it though. If I could like this more than once I would What a great film Link to comment Share on other sites More sharing options...
ketteringram Posted January 16, 2017 Share Posted January 16, 2017 1 hour ago, Wolfie20 said: Start worrying if the missus wants to help with the digging! Seriously though, it's not the most pleasant thing to do but I would strongly recommend that everyone with any assets get a will registered. Failure to do so can potentially leave a minefield for those left behind and for most people it's the last thing they need to get involved in sorting out so soon after losing a loved one. Is there a way of knowing that any will you've written, is a good one? Without waiting until after the event. Link to comment Share on other sites More sharing options...
King Kevin Posted January 16, 2017 Share Posted January 16, 2017 6 minutes ago, ketteringram said: Is there a way of knowing that any will you've written, is a good one? Without waiting until after the event. To be fair the kits you can get from the Post Office etc. if filled in correctly and witnessed by two independent people have passed the probate test with both my Mum and Dad .You need to update them if there is a divorce ,marriage etc as these types of event make them void.One of the main things is of course is to make sure your wishes are carried out so a trustworthy executor. Link to comment Share on other sites More sharing options...
Rev Posted January 16, 2017 Share Posted January 16, 2017 If you write the will with a solicitor, amendments are cheap enough using a codicil to the original will, around £15 a pop. I'd agree the most important thing is to name the executor/s in the will. Link to comment Share on other sites More sharing options...
King Kevin Posted January 16, 2017 Share Posted January 16, 2017 The other thing to consider is writing your life policies into trust [life companies do this free of charge] .This ensures it sits outside any potential IHT liability ,goes straight to the correct person and also avoids probate. For a single life policy it's a must really , not quite so important for joint life as it automatically goes to the survivor but trusts still have a place in this scenario. Link to comment Share on other sites More sharing options...
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