Simple Wills for Simple People....

[Cav]

I always understood it all automatically goes to the surviving spouse if you have no will?

Depends on what the estate is worth but if it is £270,000 or less the spouse gets the lot.

 

[Cav]

Only if you have no children

Depends on the value of the estate.

 

[MVV]

Thanks both. We only have one child and she is great so I will risk it.

 

[Cav]

^This. And make the solicitor the executor. So much less hassle.

Less hassle, more inheritance lost to solicitors' fees...

 

[Weekender]

Me and Mrs Mull have one property, some savings, no 'investment portfolios' or other complex stuff. We basically want to leave what we have to the first to go...

Second to go Shirley?

 

[Bob McC]

I always understood it all automatically goes to the surviving spouse if you have no will?

Wrong.
If you have kids it doesn’t.
This is why you need a solicitor.

 

[Rodrat]

‘Never meet a poor solicitor’ I just love stereotyping, for everyone earning shedloads there are probably a hundred earning less than £40k and many less than £30k. The overheads are horrendous and their trade body shafts them which doesn’t happened with most professional bodies. Although the training regime has changed it took 6 years to qualify which is six months longer than barristers who are similar in that most earn a hell of a lot less that the public would expect.

 

[Bob McC]

That’s fine, however, what happens if Mr and Mrs Mull are in a plane together which falls out of the sky? Or a car accident in which one party has life changing care requirements etc etc etc? I know it’s a grim topic and chances of this type of scenario are hopefully very slim but it needs covering off IMHO.

That POA that’s needed, not a will.

 

[Bob McC]

Thanks both. We only have one child and she is great so I will risk it.

Note of caution.
Let’s consider you have an estate worth £400K.
You don’t leave a will and pop your clogs.
Your wife gets £270K straight off and a half interest of the remainder.
Your daughter gets an interest in the remaining half.
Meanwhile she has married a rogue and philanderer and some years down the line they divorce and he demands his share.
Big problems for wife and daughter.

Or

Make a simple mirror will leaving everything to partner. No problems in future.

 

[Seeker_UK]

Less hassle, more inheritance lost to solicitors' fees...

For me, if it costs a few quid to go smoothly, I'm happy.

 

[Bob McC]

^This. And make the solicitor the executor. So much less hassle.

Never
Never
Never

 

[Joe Hutch]

Actually I’m not entirely sure who my executors are. Must dig out and dust off will!

 

[Seeker_UK]

Never
Never
Never

You are The Rev Ian Paisley AICMFP.

Any other reasons / alternatives beyond those @MikeMA gave?

 

[Dozey]

Is the HON Man still a thing in the Sunday Post?

 

[Bob McC]

You are The Rev Ian Paisley AICMFP.

Any other reasons / alternatives beyond those @MikeMA gave?

I am currently welfare attorney for a relative.
She insisted her solicitors acted as finance attorneys.
Bill so far for 8 months - £16,000.
They are also her executors for which they will also charge similar hourly rates but take a % of the estate as well.
Utter sharks the lot of them.

 

[Seeker_UK]

I am currently welfare attorney for a relative.
She insisted her solicitors acted as finance attorneys.
Bill so far for 8 months - £16,000.
They are also her executors for which they will also charge similar hourly rates but take a % of the estate as well.
Utter sharks the lot of them.

Yowch. Thanks for that - I shan't ask them to be executor in my will then.

 

[raysablade]

The CoOp did ours, if you are a member you used to get a discount

 

[MVV]

Wrong.
If you have kids it doesn’t.
This is why you need a solicitor.

I think you will find that I had already thanked the two posters before you that had politely answered my question.

 

[Thorn]

The CoOp did ours, if you are a member you used to get a discount

And green shield stamps, double on a Wednesday.

 

[Jamie]

And green shield stamps, double on a Wednesday.

Nah, they were Divi stamps.

Back on topic, as Bob says, use a solicitor and get mirror wills. We never really saw the need until the boy was born, so sorted it out soon after. Around £150 or £200 for peace of mind that it is all done right is a reasonable price to pay. Find a local solicitor, personally recommend by someone you know would be useful.