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Free and Cheap Wills discussion area

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  • BASBAL
    BASBAL Posts: 11 Forumite
    Try this film maker - she has already achieved some acclaim with a film exploring personal relationships with the way we live now.
    It has played to some sell out audiences - but would you have the nerve to appear as yourself?;)

    Thank you for this. I've heard of this film, so very sad. Whatever has happened to me over the last few months I know that could never hasppen to me. Despite "missing out" on a fortune I count myself as blessed and lucky, there is more to life than money, though both would be very nice!!!

    Could I play myself? Well I've done so convincingly (can't say if it was successful ;-) ) for many years so I could give it a go. But if Hollywood (as if!!) demanded otherwise I have no idea!! I'd like to say Meryl Streep but suspect they'd say that was breaching the Trades Descriptions Act!!!
  • I think "Dreams of a Life" was more Pinewood than Hollywood.
    When I saw it the director turned up, to explain to the audience afterwards what she was trying to achieve.
  • BASBAL
    BASBAL Posts: 11 Forumite
    Oh I know!! Small budget etc. etc. but poetic licence and all that.... ;-))))
  • elektra
    elektra Posts: 1,361 Forumite
    Part of the Furniture Combo Breaker Cashback Cashier
    BAS/BAL wrote: »
    Please, please everyone make a will. One of my parents didn't and as a result (too complicated to go in to here) all of the family estate, worth over 7 figures has gone out of the family. Nothing we can do cos it is the law of intestacy. So do it. I would hate others to go through the grief and angst that I have had to suffer.
    BAS/BAL wrote: »
    Nope sadly nothing wrong. The estate went to my parent's second spouse who willed it to their only issue. This person has now died, intestate, and the estate will probably go to a distant relative of that person's abusive father! All quite legal and ruled on by the Judge. So the blood relation wlil inherit! It all happened in another country too. So very unfair but perfectly legal.

    The only recent changes are increases in the amounts going to the surviving partner (Now up to £450K) - as the survivor is usually a woman, this can favour a switch from the male line to the female one but it is not "7 figures".

    I don't want to take this thread too far off topic but I don't understand how a seven figure sum went out of the family. As previously stated by John_pierpoint there is a limit to how much the spouse can inherit under intestacy laws, especially if surviving children.

    see this link, where intestacy rules explained

    http://www.justice.gov.uk/guidance/courts-and-tribunals/courts/probate/why-make-a-will.htm

    or do you mean it was a combination of the 2 intestacy cases that made it a seven figure sum ?
  • Hi, I have a quick question.

    I am looking at some of the companies that offer online will writing (started looking at the questions in this one: wills.irwinmitchell.com)

    My will be mostly straightforward, I want to give everything to my commonlaw partner. (which without a will, she won't be recognized under current law).

    Can I also appoint her for Executorship? Are there any conflict of interest problems legally in doing so?
  • Errata
    Errata Posts: 38,230 Forumite
    10,000 Posts Combo Breaker
    Beneficiaries can also be executors, many adult children are. It would be wise to also appoint another executor in case you and your partner are wiped off the face of the earth at the same time. Also consider who you want your besquests to go to if your partner doesn't survive you.
    .................:)....I'm smiling because I have no idea what's going on ...:)
  • Thanks. I amended things, so my brother and my partner are both executors.

    I had already covered the eventuality that my partner does not survive me (the will wizard covered that, with a 2nd level distribution section).
  • John_Pierpoint
    John_Pierpoint Posts: 8,401 Forumite
    Part of the Furniture 1,000 Posts
    edited 19 February 2012 at 6:52PM
    In a perfect world you have three so there is a tie breaker.

    In reality when my sister and I turned up to get the probate papers on our late mum (50:50 split between her two offspring) the court officials tried to convince us of the advantages of one of us dropping out (?!?). Definitely not what I wanted. Nothing worse than someone sniping from the side lines with the benefit of 20:20 hindsight.

    I don't think we made many mistakes - Hi sis remember that crucifix you gave away for peanuts because you did not realise it was real gold, though un-hallmarked?:rotfl:
    Think what it would be worth now if we had kept it :mad::rotfl:

    Presumably the combined estate won't be over 325K when in the hands of the survivor ?

    I know of two instances where a long term co-habitation turned into a legal union when the grim reaper made approaches to one of the partners.

    One was more of less a death bed union to prevent the family losing its home in expensive London.
  • I know of two instances where a long term co-habitation turned into a legal union when the grim reaper made approaches to one of the partners.

    One was more of less a death bed union to prevent the family losing its home in expensive London.

    This is why I have sorted out a will. I have been co-habiting for many years, and if something happened, without a will, there would be nothing for my partner.

    I'm guessing a death-bed union was quicker and easier than a will in these cases...
  • John_Pierpoint
    John_Pierpoint Posts: 8,401 Forumite
    Part of the Furniture 1,000 Posts
    edited 19 February 2012 at 8:08PM
    The point is that members of a legal union have £650,000 in tax free inheritance to share between each other. The percentage of the nil rate band unused on the first death can be transferred to the survivor ready for the second death and transfers of assets between legal partners are tax free.
    So a family living in a £525k house (that is 6 rooms in some part of London inside the M25) would need to find £80,000 at the second death just to stay living in the property, even if the house was jointly owned. [I have in mind a couple with teenage children and an elderly parent of one of the couple, where the middle aged female died of breast cancer and the property was actually wholly owned by that female].

    £80,000 is an incentive to get married.
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