Creating a Will

m4rky

Hi,

Not sure if this is the right place to post this message, It looked the most appropriate.

As a new dad with a partner I have decided that it is time to write a will.

I have no idea how to go about this, but I have seen this website:
http://www.tenminutewill.co.uk/main.cgi
You fill out the forms online and then when you are happy, hand over £29.95 and its done.

Does anyone have experience of this site or know a better way of creating a Will?

Cheers, Mark

hjb123

You can also buy packs in shops such as WHS for about £10 which come with forms, a CDROM and instruction manual. By a firm called Lawpak it is quite detailed and has a telephone number should you get stuck at all.

mountainofdebt

I really would get a will made out by a solicitor, done face to face.

Yeap it will cost you more but at the end of the day but these things need to be done properly.

Before you make a will I would consider who you would like to act as guardian to your child, should you and your partner die together - what age you would like your child to have access to thier inheritance and whether 'withdrawals' could be made in the interim for educational purposes etc.

m4rky

Thanks for your reply's.

Its all good info.

Mark

loopylisa

hi has anyone had any dealings with barcleys bank will writing service??

elliebean_2

Just be aware when using a bank to write your Will that many advise you to appoint the bank as executor. Usually their charges to execute the Will range from 2% to 4% of the value of the total estate.

elliebean_2

To follow on from my earlier response to loopylisa I've just read on the Motley Fool forum about someone's parents using Barclays free willwriting service and including them as joint executor. When they looked at the small print, Barclays can charge 4.5% on the first 100k then 3.5% plus £300 for each beneficiary plus £50 for each asset, in executing the Will, no matter how simple and straightforward it is.

So please proceed with caution if you decide to follow this route.

mountainofdebt

in the department that actually deals with people's estates I know that if the estate is under a certain value then the bank can (and often do, due to costs) step aside as executor.

Don't know about the legalities of this but couldn't you get the will written free by the bank with them as joint executor and then, once written, write an admendment to the will (known as a codicil pardon the spelling!) naming just the non-bank executor as executor?

hardpressed

Adding a codicil will cost you almost as much as having a new will.