I don't have a will, probably should, no idea where to start

I don't have a will, probably should, no idea where to start

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geeks

Original Poster:

9,724 posts

146 months

Monday 5th August
quotequote all
Mrs geeks mum who lives with us asked an interesting question the other day; "What happens to me if you are both in a car accident together?"
Now apart from checking my brake lines on the car every time I go out now the answer was "Well you have 3 other children, a heap of grand children, some great grand children as well as nieces, nephews and your own siblings, remind them you have a bit of cash in the bank and we are sure one of them will help you out!"

BUT

It did raise the point to both Mrs geeks and I that actually we have nothing in place for this, when we had not a pot to piss in there wasn't much to worry about, now we have a very small pot that would hold a tiny amount of piss. Thus we want to make sure that should something happen this is shared out in the way we want.

How does this work? Do we do individual wills and one as a couple? While I appreciate the cash is the primary concern I have others too, for example I have a few collectables (some worth money some not) that I would like to pass along in the hope that they can be used to remember me by but also to add a little joy to someone. A racecar that could be sold on and the cash recouped etc. There would be 2 main beneficiaries and a few others for some of the tat.

Having never had to do anything like this before we are unsure how to proceed.

Jordie Barretts sock

6,018 posts

26 months

Monday 5th August
quotequote all
Presumably you would keep it simple, if I die it's all hers, if she dies it's all mine, if we both die it's all the MiL or whatever?

Phone a local solicitor. Quite cheap and straightforward. At least when you know it's all done properly and watertight legal.

Just me, but I wouldn't trust one of those will writing kits from WH Smith or wherever.

alscar

5,370 posts

220 months

Monday 5th August
quotequote all
Each of you does a will not one as a couple.
Your individual wills can " mirror " themselves and then any additions to either as necessary ie for your collectables.
You can diy but my advice would be get them done professionally.

geeks

Original Poster:

9,724 posts

146 months

Monday 5th August
quotequote all
Jordie Barretts sock said:
Presumably you would keep it simple, if I die it's all hers, if she dies it's all mine, if we both die it's all the MiL or whatever?

Phone a local solicitor. Quite cheap and straightforward. At least when you know it's all done properly and watertight legal.

Just me, but I wouldn't trust one of those will writing kits from WH Smith or wherever.
In bold yes in principle, though I have death in service at work and that is split so if I die Mrs geeks gets 75% and the remainder is split evenly across my brother and step-son (who incidentally would be the main beneficiaries of our wills anyway)

alscar said:
Each of you does a will not one as a couple.
Your individual wills can " mirror " themselves and then any additions to either as necessary ie for your collectables.
You can diy but my advice would be get them done professionally.
Ok both of you seem to think a solicitor is the way so I will make some enquires, any guide on what we should be paying? (appreciate that can be a bit variable but a ball park would be nice)

richhead

1,633 posts

18 months

Monday 5th August
quotequote all
I wouldnt worry about a solicitor for a simple will (before anyone objects my dad who was a probate solicitor told me this)
Just download an online form, do one each, in case one dies first.
when i was married we had one each leaving everything to the other, but that in the event that one die before the other the wishes of the other partners will were followed on the death of the remaining person
And then we put in our own wills any extra things we wanted, like i wanted to leave my son from a previous relationship something, that way if we i died first he would get it on her death.etc.
Its only complicated if you want to make trusts ect.
Going back to my dad, he made alot of money out of people not having a will.
The important thing is to let other people know to find it on your death.

alscar

5,370 posts

220 months

Monday 5th August
quotequote all
geeks said:
Ok both of you seem to think a solicitor is the way so I will make some enquires, any guide on what we should be paying? (appreciate that can be a bit variable but a ball park would be nice)
My wife and I had ours redone in 2020 so price bit of date but for 2 mirrors with some differences ( watches ,cars etc ) it was £ 276 inc VAT.
We paid a further £25 for storage etc per year which also included 1 free rewrite for us both annually.
At the same time we did also get LPA's done for us both individually ( both Finance and Health so 4 in all ) which were a further £960 all in so may have got a slight discount on the will !
Given so many threads on here I would strongly advise you do the LPA's at the same time and then hopefully you wont ever need to activate them.

Newc

2,005 posts

189 months

Monday 5th August
quotequote all
You're likely in the 500-1k ballpark. Keep costs down by, before setting foot in the office, writing down with your Mrs all the permutations and consequences, eg

1. You go, she doesn't, or vice versa. Any '50% goes to my partner while they are alive then reverts to...' stuff ?
2. You both go but not your kids. Are they under 18 ? Who's looking after them, and will they get money for that.
3. You and the kids all go.
etc etc

Essentially, work through a chain until you get to "in which case 100% to the Cat Protection League". It's never a great conversation but better that you have it than your heirs do.

Also, you have definitely got a list somewhere of all those pension accounts and insurance policies and contact details and house deeds and car docs and proofs of ownership and ... ?

mikef

5,239 posts

258 months

Monday 5th August
quotequote all
We got reciprocating wills done for £200 by Emma at Dynasty Wills in East Sussex - nothing particularly complicated, mind you.

Interviews could be over zoom and follow up by email

All very professional and painless

www.dynastywills.co.uk


loskie

5,654 posts

127 months

Monday 5th August
quotequote all
wait till a solicitor partakes in the "Will aid" scheme. Then a charity benefits as well as you. Depending on where in the country but solicitors here in SW Scotland charged me £175 for a will with no annual storage fee. That's for the house deeds too.


https://www.willaid.org.uk/

alscar

5,370 posts

220 months

Monday 5th August
quotequote all
Newc said:
Also, you have definitely got a list somewhere of all those pension accounts and insurance policies and contact details and house deeds and car docs and proofs of ownership and ... ?
Very good advice and don't forget to add any cash deposits and any investments to your list.

RustyMX5

8,250 posts

224 months

Monday 5th August
quotequote all
I'd also suggest getting it saved in the National Will Archive. That way if the solicitors etc close down it's still available.

We had this problem when my father died. The will had been written in about 1982 and the solicitors had long since gone. After paying for a couple of searches in several areas with no luck we found it stuff in the back of an old filing cabinet. Sticking it in the National Will Archive means it's more readily accessible.

PistonBroker

2,517 posts

233 months

Monday 5th August
quotequote all
loskie said:
wait till a solicitor partakes in the "Will aid" scheme. Then a charity benefits as well as you. Depending on where in the country but solicitors here in SW Scotland charged me £175 for a will with no annual storage fee. That's for the house deeds too.


https://www.willaid.org.uk/
Yep, that's what we did.

I feel like it was sub-£100 for a pair of mirror wills a decade or so ago, but that sounds astoundingly cheap.

We had to redo them to take our business into account more recently and I think that cost us more!

Actual

1,029 posts

113 months

Monday 5th August
quotequote all
mikef said:
We got reciprocating wills done for £200 by Emma at Dynasty Wills in East Sussex - nothing particularly complicated, mind you.
Interviews could be over zoom and follow up by email
All very professional and painless
www.dynastywills.co.uk
How was the wills signed and witnessed and were are the original signed wills stored?

My in-laws had horrendously complicated 9 page wills but my parents were only 1 page. All were mirror wills and achieved the same outcome but 9 pages of unnecessary legalese was frustrating.

An aunt's will made the solicitor the executor for a simple estate which took over 1 year and cost a significant amount in fees to get probate.

When getting wills i think
Keep it simple
Use a beneficiary as executor
Make sure the will is stored in a secure and well known location.
Tell people you have made a will

I really must get my will sorted.

mikef

5,239 posts

258 months

Monday 5th August
quotequote all
Actual said:
How was the wills signed and witnessed and were are the original signed wills stored?.
Ah, we did stop by their office when we were in the area and someone there did the witnessing, but we could have had it witnessed locally to us

We are alsopaying for them to also store our wills (£25/year from memory, on a direct debit), but that was because I don’’t trust our fireproof safe smile

Our daughter is executor

bad company

19,466 posts

273 months

Monday 5th August
quotequote all
Some good advice here. Go to a reputable local solicitor who specialises in wills & probate work. It’s not too expensive and they’ll keep the will in their safe just in case you’re fried to a crisp in a house fire.

Also get a couple of friends and/or relatives to be executors. Banks & solicitors charge a fortune for this work.

Simpo Two

87,030 posts

272 months

Monday 5th August
quotequote all
RustyMX5 said:
I'd also suggest getting it saved in the National Will Archive. That way if the solicitors etc close down it's still available.
What happens if they go pop or forget to pay their hosting bill?

I think something of this importance should be nationalised, not left to individual companies who have no greater chance of lasting than the solicitors they offer to replace.

RustyMX5

8,250 posts

224 months

Monday 5th August
quotequote all
Simpo Two said:
RustyMX5 said:
I'd also suggest getting it saved in the National Will Archive. That way if the solicitors etc close down it's still available.
What happens if they go pop or forget to pay their hosting bill?

I think something of this importance should be nationalised, not left to individual companies who have no greater chance of lasting than the solicitors they offer to replace.
Oh bloody hell.. I thought there was only one of them when in fact it turns out that there's also the National Will Register too which is separate from the National Will Archive. How dumb is that?!?!

Strangely Brown

11,075 posts

238 months

Monday 5th August
quotequote all
mikef said:
Actual said:
How was the wills signed and witnessed and were are the original signed wills stored?.
Ah, we did stop by their office when we were in the area and someone there did the witnessing, but we could have had it witnessed locally to us

We are alsopaying for them to also store our wills (£25/year from memory, on a direct debit), but that was because I don’’t trust our fireproof safe smile

Our daughter is executor
A small thing to note there:

If your daughter is executor and your estate is over the IHT threshold she will need or have access to sufficient funds to pay the IHT before probate is granted. If she doesn't have it then she would need to get a loan to cover it before any funds are released from the estate.

Just one of those things that can catch people out if they don't take proper legal advice.

mikef

5,239 posts

258 months

Monday 5th August
quotequote all
Thanks for noting that

Actual

1,029 posts

113 months

Monday 5th August
quotequote all
mikef said:
Ah, we did stop by their office when we were in the area and someone there did the witnessing, but we could have had it witnessed locally to us
Presumably the witness could not be a beneficiary and using other family as a witness would be awkward and I am totally averse to ever using a friend or neighbour as a witness for anything.

Now for some really bad advice so don't follow this... I am married and most of my stuff is in joint ownership with my wife so we don't need a will if one of us dies but there are limits so without a will a significant amount could go to my parents (deceased), children and even my sister.

I really must get my will sorted.