Free and Cheap Wills discussion area

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  • I have never heard of a bloodline will. I suspect that it is a marketing name given by the firm to a particular type of Will.

    And I suspect it is a Will which creates a 'lifetime trust' on the first death of a couple. This allows the survivor the rights to occupy the share of the property owned by the deceased -but they can't access the capital value - and thus give it to a new spouse or partner - thus ensuring the capital value passes down the bloodline. A similar thing can be done with any cash and investments.

    Is it worth it? Depends on whether your parents are concerned that the survivor of them might disinherit their children in favour of a new spouse or partner. This does not need a conscious action - for example if the survivor remarries, marriage revokes a Will and then their new spouse would inherit under their intestacy.

    This type of arrangement also does have the advantage that the capital value held in trust can't be used to fund care costs of the survivor should they need nursing home care.
  • selimap
    selimap Posts: 28 Forumite
    The MSE newsletter keeps promoting this myth. I paid £150 for my recent will made through will aid, which is available each November (only).

    I was happy to do it as it went to good charities. The charges were explained u pfront. Solicitors are not going to give up hours of their time for no reward for either themseleves or the will aid charities, why should they?

    The newsletter often contains many innaccuracies and misses other opportunities, but as there is no contact address to provide suggestions or point out errors, they get perpetuated.
  • Hi My husband and I are looking to create simple mirror wills, and we have a daughter age 7.

    We had found a company online called 'www.tenminutewill.co.uk' who have 'The society of will writers' logo clearly on the site, and the FAQ section seems thorough and sensible. A pair of mirror wills costs £49.95.

    Is there any obvious reason why we should not use this service for our wills, or for that matter is there something we are missing, as having read the article and discussion, this seems very cheap ... (which is both a good thing, and rings alarm bells).

    The reason we like this, is that having promised that we will get wills written for the last 7 years, we haven't ... and if we could just get it done in an evening (then signed / witnessed of course) then at least it will be done ...
  • There is a saying - garbage in = garbage out.

    So if you both have sufficient legal knowledge not to put garbage in, then by all means go for it. Otherwise you run the risk of getting garbage out.

    Incidentally, you should be aware that terms in the Code of Conduct for the Society of Willwriters means that it is impossible for one of their members to deliver an online Willwriting service. So their claims of membership are false, or the Society of Willwriters is rather more relaxed about its membership requirements than it claims.
  • Baggysdad wrote: »
    .................................This does not need a conscious action - for example if the survivor remarries, marriage revokes a Will and then their new spouse would inherit under their intestacy.....................................


    I think I'm correct in saying that you are refering to the English system, it's not quite the same in Scotland where children and spouses have "Prior Rights", one result of which is you cannot disinherit them. It doesn't matter whether you have a will or not those Prior Rights still apply. However a spouse and kids can voluntarily give up those rights.

    Why do I know this, well; my FIL died without a will and OH applied to be an executor along with my MiL. A deed of variation, a £3,500 Bond of Caution, £20,000 in solicitors fees and 4 years later we think it's all over, (I'm not holding my breath just in case). Anyway in order for OH to get what we wanted from the Deed of Variation MiL made OH renounce the Prior Rights with respect to her assets when she died.

    Please everyone, make a will, try and find a good experienanced solictor/will writer, some one you trust and just do it. You not having a will is not going to affect you, but boy o boy will it cost your 'loved ones' and not just financialy. What's more let all your beneficiaries know before you die what it is you want to happen. They might not like it but at least they'll all know. We are going to be very up front with our kids when they are old enough.

    Also I'd second making your beneficiaries the executors. 2 seems to be an good number; to share the work load; as insurance in case one is indiposed; any more spoils the broth. MiL died a year ago she had will and 3 executors, 2 friends (elderly) and one solictor. One friend died and the other has health problems so really it's down to the solicor to act as executor. This solicitor has appointed another solictor within the same firm to act as solictor to the executors (talk about two bites from the same cherry or what). I get the feeling that between them they are going to milk the situation for all it's worth. It's no longer our problem as OH & I are not beneficiaries but it's frustrating to see my BiL and SiL being messed about.
    Finally remember that you are the client and the professional is working for you, don't be in awe of them, question anything that doesn't feel right. Keep in regular contact ie check up that that they are doing what they said they would; you want your case in front of them on their desk not at the bottom of their pile of other cases.

    Yours

    Battered, Bruised, Bitter,Twisted, Cynical & now No Body's Fool
  • "dependants" cannot be disinherited under the south of the border laws too.
    So in a fit of peak you cannot leave the whole lot to the dogs home leaving the rest of us to pick up the tab for your responsibilities.
    Discuss it with your will writer.
  • dentonemma
    dentonemma Posts: 240 Forumite
    When does a will become vaild. Went to see a solictor today to update our wills. The solictor will now draw up our wills, when do they become vaild today or when we sign & collect them.

    Thank You
    Pay £7,500 in 2011 paid £29,325 No 43 OP £21,825
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  • When they are signed and witnessed at the same time.
  • I live with my girlfriend (so unmarried) and have a joint bank account and a joint mortgage.

    Would these "joint" entities automatically go to the other person on either of our deaths WITHOUT having to have a will, or would the deceased's half still go to the next of kin ?
  • Mary_Hartnell
    Mary_Hartnell Posts: 874 Forumite
    Yes - just send in the death certificate.
    Is the property in joint ownership or "tenants in common" (the latter would follow the instructions in a will or follow the rules of intestacy. The intestacy rules are based on "blood" relationships or legal relationships such as marriage and adoption.)
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