View Full Version : Making a will
LSainsbury
03-08-2006, 09:46
Hi all,
Anybody got any advice on making a will?
I know you can get these DIY will kits - are they any good etc?
Cheers
Lee
Hi all,
Anybody got any advice on making a will?
I know you can get these DIY will kits - are they any good etc?
Cheers
Lee
Bit young to be thinking of a will ?? Have you had some bad news !!
(PS: I DO hope not, I am only :jk: )
LSainsbury
03-08-2006, 10:35
One word: Mortgage ;)
Apparently they aren't that good, can't remember why though. Just that mum and dad had bought them but then got it done at a solicitors instead.
Lee,
Find a local solicitor.
The problem with a DIY kit is the only time you find out there is a problem with the wording is after you are dead and then the courts have to figure out what you really wanted!
An example given to me by a probate lawyer was as follows-
Will said along the lines of "I leave £10000 to be split equally between charity A and animal charity B as long as charity B looks after my dog". His dog passed away before he died, and charity A went to court to say we want all £10000 as charity B can't fulfil the obligation to look after the dog! Nobpdy know whether he intended to say 'any surviving dog' or don't give money to B if I don't have a dog. (In the end they both got £5000 and kept several lawyers in business!)
My advice, if you don't want relatives fighting over your wishes, get a decent solicitor to make one up.
TheDaddy
03-08-2006, 12:02
That is sound advice Aragorn
You're never too young to make a will. Do it now and then you don't have to worry about it!
My wife and I went to see a solicitor in a well-established local firm. They asked some questions, sent us a document to read, then we went back to sign and seal it. They store the original, we keep a copy, all for a one-off fee.
I'm so glad we did this, even though the cost was quite high (about the same as a new sofa). There is also the security of having it tailor-made by a professional, rather than a mass-produced DIY job. You only have to make one will (probably), so why not make it a good one?
Some solicitors offer a low rate fixed fee to prepare a will as long as it is straightforward ie not 5 different houses, a couple of private islands, a classic car collection and 50 different beneficiaries, because it's easy money for them, standard format with minimal work involved. In Grimsby we've at least two well established, reputable firms offering a standard will for £80, not much money for peace of mind, if its happening here it must offered elsewhere, so it is worth making enquiries with a few firms in case they have a similar service :)
highlandlassie
03-08-2006, 17:48
A firm of lawyers in my home town will do a will for you for a donation to their charity, which is the local hospice. Last time I checked it was for a donation of around £60
cookie_365
03-08-2006, 20:37
The DIY wills are good in the sense that they make you think about what you actually want to happen.
So buy a DIY kit, fill it in, then take it to your solicitor for her to do it properly ;)
I made a will a few years ago (was going to a dangerous place) and used some will writing software - when I returned, I spoke to a friend of mine whose wife is a solicitor, and she looked at the will and said that I might just as well have not bothered...
My advice is to pay to get one done properly, most solicitors will also hold the will for you (sometimes for a fee) so that should the worst happen, people are not searching the house for it (or should the house be destroyed the will would not be destroyed with it.)
I had a lot of time to think about this and decided that paying for it to be done professionally is the only option worth taking.
Just my 2c
What happening if you do not :dozey:
http://news.bbc.co.uk/1/hi/business/4032019.stm
Mike
What happening if you do not :dozey:
http://news.bbc.co.uk/1/hi/business/4032019.stm
Mike
Excellent post - this makes the dangers clear, and illustrates (to those of us not familiar with legal terminology) the importance of hiring a good lawyer.
Agree with what everyone else has said - never too young, and definitely get it done professionally!
Intestacy is a b'stard (sorry) - no control over where your possessions go. A well drafted will ensures the people you want will inherit.
Some Banks also offer a Will Writing service - sometimes cheaper than a solicitor, with the added security that it will be stored safely - solicitors have been know to fold :(
Let's say I was to get one done now, can you then add to it in say 10 years time or would you have to make a completely new will ?
Thanks.
TheDaddy
08-08-2006, 12:52
Let's say I was to get one done now, can you then add to it in say 10 years time or would you have to make a completely new will ?
Thanks.
An existing will can be updated using a codicil, although I believe in most cases it is better to rewrite the thing.
Why can't it be made more simple (at least for basic wills) ? A set syntax could be drawn up so there is no ambiguity in the meanings and simple wills could them be written by software.
The person making the will could enter the items/amounts and who they are to be given and the software could print out a simple table with instructions for when they worst happens.
If you want a more complicated will you could still go to a solicitor but those of us that just want to pass everything to one person or several members of their family could produce a will in a matter of minutes. :shrug:
Let's say I was to get one done now, can you then add to it in say 10 years time or would you have to make a completely new will ?
Thanks.
Yes - as TheDaddy said, you can vary your will at any time by codicil, for minor changes, but the more codicils, the more complicated it can be for your Executor to unravel. If you need to alter your will big-time, then its always best to draft a new one. Each new Will revokes any precious ones.
Also, a Will is automatically revoked on marriage(civil ceremonies are included), but not on divorce!
Why can't it be made more simple (at least for basic wills) ? A set syntax could be drawn up so there is no ambiguity in the meanings and simple wills could them be written by software.
A lot of Will writing firms use software to draft Wills, but on the whole it is far too complicated, due to 'antiquated' terminology that has to be used.
those of us that just want to pass everything to one person or several members of their family could produce a will in a matter of minutes. :shrug:
Don't bank on it! This is where a lot of Wills fail - because you need to leave provision in case one or more of your beneficiearies pre-deceases you! If you don't think things like this through, you can invaidate the Will, an then the laws of Intestacy take over :Yikes:
Don't forget it also needs to be signed and witnessed, but not by any beneficiary of the Will.
IMO - it is always best to have a Will drawn up professionally, as one word out of place can change the whole context of it. At least your family will have someone to sue if it goes wrong :cool:
A lot of Will writing firms use software to draft Wills, but on the whole it is far too complicated, due to 'antiquated' terminology that has to be used.
Which is why I said why can't it be made more simple (change of law?) so make it easier?
Which is why I said why can't it be made more simple (change of law?) so make it easier?
Have you tried changing the Law?
Don't worry, Uncle Gordon (Brown) will soon make the need for a Will obsolete - he'll take all the money for himself. :mad:
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