Wills

[Kippaxpete]

The Mrs has a bee in her bonnet about us both sorting out our wills. She/we are looking at doing it ourselves, my mum did and all seemed OK but my concern is understanding the legalese and wording to make it right. Has anyone done it themselves and is it ' that easy '.......

Check out the advice via the link below, particularly reference to Will Aid month. We took advantage of the scheme some years ago. While not strictly free, it was absolutely worth it. Oh and don't delay. I speak as someone who's seen first hand the havoc wreaked on a family when one of your nearest and dearest dies suddenly and intestate (without a will).

https://www.moneysavingexpert.com/family/free-cheap-wills/

 

[bluebaja]

He's generally OK, I think he has had his head turned around by his Mrs...

 

[1961_vintage]

What, because a company charges money? Shock horror

No - because it's a will and the proximity to the word "farewell". Lighten-up.

 

[Mr Kobayashi]

The Mrs has a bee in her bonnet about us both sorting out our wills. She/we are looking at doing it ourselves, my mum did and all seemed OK but my concern is understanding the legalese and wording to make it right. Has anyone done it themselves and is it ' that easy '.......

Legalese isn't really complicated in wills. All that needs to be clear is your intention, and the process followed. The language doesn't need to be complicated.

But things that might complicate it are owning a business and passing that on and if you are over the inheritance tax threshold. Not assuming you are are and no judgement made.

But if you were to be you may want to stipulate where the tax applies if you want to give one beneficiary more of a helping hand for any particular reason.

For peace of mind, you would be better off going to a professional and you will know it's watertight and there won't be any unexpected surprises down the line.

Also bear in mind any life insurance policies and whether that passes to the estate or direct to beneficiaries.

And finally if you own any property jointly i.e. it is owned without slotted shares known as "tenants in common" then it automatically passes to the person you own it with. So it won't pass as part of your will even if you incorrectly specify that it should.

What does ‘joint tenants’ or ‘tenants in common’ mean on death?

Properties owned by 2+ people can be owned as ‘joint tenants’ or ‘tenants in common’. Here’s what the terms mean, and the legal details you need to know.

www.geoffreyleaver.com

 

[bluesince76]

No - because it's a will and the proximity to the word "farewell". Lighten-up.

You clearly buy into the Alanis Morrissette school of irony

 

[dickie davies]

My wife who works at a solicitors says, get it done by a solicitor, not a will writing service or a DIY job
A joint will should cost about £300+vat, which seems a lot, but it will definitely save on fees for whoever is left to sort the inheritance
She has seen too many of the cost saving wills challenged

 

[denislawsbackheel]

Please please please arrange power of attorney at the same time.
In some ways it's more important.