Free and Cheap Wills discussion area

Savvy_Sue

And you do need to get the life interest bit set up properly, for example is the surviving spouse responsible for all the maintenance; if they want to move does the sale of the house mean they have to pass half the proceeds on immediately, and so on. You need someone who knows which 'what if' questions to ask.

msw201

G6JNS wrote: »

Not in the sense that bit needs to be set up. It is automatically created by the will.

OK, thanks.

Savvy_Sue wrote: »

And you do need to get the life interest bit set up properly, for example is the surviving spouse responsible for all the maintenance; if they want to move does the sale of the house mean they have to pass half the proceeds on immediately, and so on. You need someone who knows which 'what if' questions to ask.

Right, thanks. I will do some research into life interest trusts.

Sorry to both of you for the late reply, it seems that the notification isn't working.

msw201

msw201 wrote: »

Sorry to both of you for the late reply, it seems that the notification isn't working.

In fact I hadn't subscribed to the thread... have now.

mo786uk

In a will can you put a number of permutations as to what happens with your house?

e.g

house to john

if john is dead hosue to sam

if sam is dead house to carl

basically to cover al lscenarios - as someone said, in 10 years things could be a lot different

can you also specify thigns like

house to carl and james to be sold and money shared out

or do you just give them the house and let them decide what to do with it

Keep_pedalling

You can do, but looking at your example if Sam had a child after you wrote that will then died before you his child would lose out to Carl.

This is where you should not cut corners and get a will drawn up by a solicitor who will discus your wishes and draw up a will that covers all eventualities.

Mojisola

Keep_pedalling wrote: »

You can do, but looking at your example if Sam had a child after you wrote that will then died before you his child would lose out to Carl.

This is where you should not cut corners and get a will drawn up by a solicitor who will discus your wishes and draw up a will that covers all eventualities.

I agree - a good solicitor should ask enough questions to know what outcomes you want and write the will to achieve them.

In the example given, the will could be written so that -
house to john
if john is dead but leaves children, the house goes to them
if john is dead with no living issue, house to sam
and so on.

Looter

I'm asking this on behalf of a friend. If I wanted to leave cash to relatives in Canada what would be the best way of going about it? Would the recipients need to have a UK bank account to receive the funds?

Thanks for any replies!

Yorkshireman99

Looter wrote: »

I'm asking this on behalf of a friend. If I wanted to leave cash to relatives in Canada what would be the best way of going about it? Would the recipients need to have a UK bank account to receive the funds?

Thanks for any replies!

There should be no problem and they would not need a UK bank account. There are various means of the money being paid.

Toxteth_OGrady

My Will was written a couple of years ago by a solicitor and I am happy with the bequests etc.

However I would now prefer to have close relatives rather than the solicitor's firm nominated as the Executor.

Can I re-type my Will word-for-word, changing only the Executor details and witnesses/dates and re-sign?

Having done that, if I were to store my new, DIY Will with the Probate Service and write to the solicitors to revoke my previous Will would there be anything else I needed to do?

:cool:

TOG

Yorkshireman99

Toxteth_OGrady wrote: »

My Will was written a couple of years ago by a solicitor and I am happy with the bequests etc.

However I would now prefer to have close relatives rather than the solicitor's firm nominated as the Executor.

Can I re-type my Will word-for-word, changing only the Executor details and witnesses/dates and re-sign?

Having done that, if I were to store my new, DIY Will with the Probate Service and write to the solicitors to revoke my previous Will would there be anything else I needed to do?

:cool:

TOG

You could but it is false economy. Are you aware of any legislative changes that have taken place since you made the will? Can you be sure that there will not be any typing errors? Get the job done properly.