Free and Cheap Wills discussion area
Comments
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If they're in a care home, what else would they do with their empty house? I'd rather be able to sell my house and choose a comfy care home than be thrust in one of the local council's choosing.
Without sidetracking the thread and my topic, my parents would both feel terrible if they knew everything they earned in life (working from their early teens) went on paying for them to receive care. Also an expensive care home doesn't necessarily mean a good one.
Personally I wouldn't care what they left me, but they feel strongly that what they have worked hard for in life goes to their family. ( I must stress they dont have a lot anyway, and there isnt any issue with inheritance tax as they dont have that much assets)
Back to the topic, is the more detailed Will I mentioned called a particular type of Will?0 -
No specific name for it, but even for a simple will like you were first intending, don't go the DIY route, or use a will writing firm. Go to a proper 'STEP' qualified solicitor and make sure it's done right.
Brighty0 -
You need to go to a solicitor not a will writer or online.Hi
My father is terminally ill, and he and my mother have asked me to arrange a will for them.
Its is a pretty basic arrangement they wanted.
If either of them pass away, everything goes to the surviving spouse. (They own their own house)
If they both pass away all assets are divided equally between their 4 children. Its then upto those 4 children to do whatever they want with regards passing it onto the grand children.
I have gone through the Which online Will maker process and have everything ready to process.
However I have read recently that it is possible to have a Will made so that if my mother or father passed away, rather than all the assets/house going to the surviving member, the one half of the house owned by the now deceased, could be passed onto the children, so:
Surviving Mother / Father = 50% Ownership
Son 1 = 12.5% Ownership
Son 2 = 12.5% Ownership
Daughter 1 = 12.5% Ownership
Daughter 2 = 12.5% Ownership
This would mean should the surviving father / mother need to pay for care costs in the future, they wouldnt have to sell their house to pay for it.
Is this correct, and any idea what a Will like this is called?
Is this something I would need a solicitor to write up or can it be done online too?
Thanks0 -
May I ask whats wrong with doing it the online route? Especially with a website such as Which!
Pretty sure it was recommended by the MSE website too?0 -
Because you need to get proper advice from a solicitor to make sure you have covered all the angles. Online sites and will writers don't do that.May I ask whats wrong with doing it the online route? Especially with a website such as Which!
Pretty sure it was recommended by the MSE website too?0 -
Basic stuff that will writers, online services, diy wills miss is when first parent dies, you'd want the surviving one to be able to stay in the house, without correct wording, the kids could force a sale and put parent on the streets. Once you have that sorted, do you want to allow them to move house to either downsize or change area? All things to consider and that a solicitor will do right. Also, some people name grandchildren in a will, which then means any future grand kids miss out. I'm sure there's lots more little pit falls you can fall into if your're not carefull, hence it's wise to get it done properly by someone who knows what questions to ask
Brighty0 -
Well, just think how terrible the rest of us would feel if we ended up paying for it?Without sidetracking the thread and my topic, my parents would both feel terrible if they knew everything they earned in life (working from their early teens) went on paying for them to receive care.0 -
Yorkshireman99 wrote: »Because you need to get proper advice from a solicitor to make sure you have covered all the angles. Online sites and will writers don't do that.
Absolutely, for example it would be pretty useless stating in the will that you want your half of the house left to your children, if the house was owned as joint tenants, because you don't actually have half a house to leave anyone.0 -
Without sidetracking the thread and my topic, my parents would both feel terrible if they knew everything they earned in life (working from their early teens) went on paying for them to receive care. Also an expensive care home doesn't necessarily mean a good one.
Personally I wouldn't care what they left me, but they feel strongly that what they have worked hard for in life goes to their family. ( I must stress they dont have a lot anyway, and there isnt any issue with inheritance tax as they dont have that much assets)
Like many of us of a certain age the value of our house does not reflect what we put into it in the way of hard work, but it's more down to rampant house price inflation. If our children are lucky that will all go to them, but it is sure a comfort that should it be needed in our case it will provide several years of top quality care.0 -
Can someone please advise me if I can do a free or cheap will.
I want to leave all my belongings including a car to my son. He is my only child.
I have no savings or house as I live in a local HA property.
Am still married but separated for 20 odd years, don't even know if husband is still alive or where he might stay.0
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