Making a Will - advice?

Loughton_Monkey

timmyt wrote: »

They can always go for solicitor for specific problem but otherwise executorship is usually could not be more wrong, I would not wish executorship on a family member, nasty traps all over the place, especially with the Revenue simple.

With what do you disagree? (A) that they can always go to a solicitor at the time? or (B) ... but otherwise executiorship is usually simple?

I would stand by both statements. If you imply that some estates can get tremedously tricky, then that's true. But I believe the majority to be 'simple' - at least from a legal perspective.

getmore4less

Loughton_Monkey wrote: »

Meat & Drink for the local solicitor.

Just re-did ours, but initiated it in November under Will Aid. Suggested donation £110 for a pair of spouse mirror wills (we paid more). One 30 minute meeting. Then a draft by e-mail. Couple of comments to-and-fro by e-mail. Then finally 10 minute meeting to sign.

No point, I feel, in doing it yourself. Solicitors can ensure they use the correct unambiguous wording. No pressure whatsoever to make them executors. Just make your spouse, plus one or two other relatives executors. They can always go for solicitor for specific problem but otherwise executorship is usually simple.

Ours was not complicated. One of us dies, then the other inherits. On second death, X% to charity, then balance divided in two. One half distributed equally to specific named relatives my side. Other half likewise her family.

On 'chattels' [furniture, possessions & the like] it appears legal that the will can simply mention a 'wish list'. So you can draw up a list - at leisure - that says this painting to that nephew. This piece of furniture to that neice. Insect collection to brother in law [provided he scrapes them off your front number plate].....

That can cause loads of problems, read up about the problems people have had with charities and things like house sales and valuations of everything.

NickyBat

Do you and your "Mrs" own your own property and if so how do you own it? If jointly is it held as "joint tenants" or tenants in common"

Sorry to hijack the thread, but could someone explain to me what the above means and what the difference is. (maybe something i need to think about)

Mojisola

Joint tenants both own the whole property. When one dies, the other still owns the whole property.

Tenants in common each own part of the property - usually 50/50 but not necessarily. When one dies, he/she can leave their part to anyone they chose.

NickyBat

Mojisola wrote: »

Joint tenants both own the whole property. When one dies, the other still owns the whole property.

Tenants in common each own part of the property - usually 50/50 but not necessarily. When one dies, he/she can leave their part to anyone they chose.

thanks for that Mojisola - how would i find out what we are?

Mojisola

NickyBat wrote: »

thanks for that Mojisola - how would i find out what we are?

It should be on your deeds.

NickyBat

I think they are still with the bank, i moved into my husbands house so i now think maybe its only hubby's name on them!!

JohnB47

We've always taken out our mortgages jointly, so I guess we are joint tennants. The mortgage is all paid off. Also, we don't have deeds. I was bit surprised, when we bought our current house in 2001, to be told that deeds are no longer necessary. As long as the details are registered with the land registry, then all is legal. I would have liked the deeds however. They must have existed at some time, so I wonder what happened to them.

JohnB47

Mojisola

If you don't ask for the paper deeds to be kept when they are sent to the Land Registry, they are destroyed. It's a great shame. Although they're not necessary for legal sales, they are of historical interest.

Newly_retired

You can check with the land registry to find out if you are joint tenants or tenants in common. It is easy and cheap to get them to change it.