do i have to make a new will?

sueeve

Another thought is that getting a professional will with safeguards for your children will make your children feel more secure and less worried about being sidelined by your new relationship. They might be able to do a bit more than tolerate him if they know their inheritence is secure.

mountainofdebt

Its all very well everyone saying don't make the solicitor the executor but sometimes a person's situation can make it the best option - they won't deal with emotion but the legal situation.

In cases where the two adult children 'tolerate' the boyfriend, tbh, I would recommend it.

Savvy_Sue

mountainofdebt wrote: »

Its all very well everyone saying don't make the solicitor the executor but sometimes a person's situation can make it the best option - they won't deal with emotion but the legal situation.

In cases where the two adult children 'tolerate' the boyfriend, tbh, I would recommend it.

unless there's another older relative who could be relied on to help out. Or a family friend. I wouldn't want to put that on my eldest, and he's a bit older, but when we re-do ours I will probably make the older two executors.

It is difficult, but it must be done before you marry. If you don't, then the marriage will cancel the previous will and you will die 'intestate', ie as if you'd never made one. Then your b/f could get the lot, if you don't have much to leave.

Pee

It would be entirely inappropriate to appoint the 19 year old executor.

Do you have any family or friends your own age who are trustworthy, honest and with similiar views to you? Sometimes a brother or sister can be perfect, sometimes the last person you would choose.

I would think very carefully about marrying someone who you do not appear to want to maintain. When you get married you promise it's for better or worse and legally you have an obligation to maintain a spouse. You also have to consider that the sometimes marriage does end in divorce, and your house might not end up being your house then.

You should think carefully about what you want. A fit, healthy husband may not require much provision, but surely if the house was sold you would want something to go to him. When your children are a few years older and set up and your husband is retired and you have been married 20 years will you still feel that split is appropriate? Especially if he gave up work for years to care for you or is unwell himself? Think carefully about what you want and then pay for the Will to be done properly. (It may well be £200 for a life interest will, but worth many times that when something happens.) Please review it regularly as your life progresses.

meritaten

£200 may seem a lot of money now - but if you dont upgrade your will then if something happens to you after you marry then the spouse will inherit whether you like it or not! You can do a home-made will as long as you make your wishes clear and appoint an executor. and have your signature witnessed by two people who DONT inherit. but, personally, I would spend the £200 just to be sure that my children were taken care of as I wish. or dont you think they are worth that?

Mojisola

Pee wrote: »

It would be entirely inappropriate to appoint the 19 year old executor.

I don't see why you say this.

When we made our wills, our lads weren't much older than this. We talked through the position with them and explained that they could ask other people for help or even employ a solicitor if they felt unable to cope. Being the executors keeps them in ultimate control.

AndrewSmith

Alter_ego wrote: »

Not true that an exec cannot benefit

I agree, an executor can most certainly be a beneficiary. The gift to the executor can also me made conditional on whether he/she acts as executor.

It is quite common for couples to have each other as primary executor and beneficiary of the estate, similarly it is normal for a couple to nominate their children as executors in the event of simultaneous death with the children still being beneficiaries of the will.

AndrewSmith

dithedancer wrote: »

i would make sure he wasnt made homeless, but what would happen if after my death the kids wanted to sell the house and set up on there own would one of them have to take him in. they don't get on famously with him, just tolerate him. i don't know if its right or not but i heard that an executor could not have any claims in the will, is that true.

This is exactly why you need to make an up to date will.

This situation is actually quite common these days and is very easily dealt with as long as the will is correctly drafted.

You can clearly state in your will that your partner is to remain in the property (lifetime interest) however the children have ownership. This protects their interests in as much as the property belongs to them but also ensures that your partner, for as long as he needs it, has the use of the house and legal right to do so.

The property can still be sold by the children as long as the Liferent is in agreement with this.

What is vital though is to be able to review and update your will on a regular (annually or Bi annually) basis to take account for any changes that may occur both with the financial situation and /or the attitude of the children towards your partner.

Also, as stated above, an executor can indeed be beneficiary in a will. In fact in most cases this is usually what happens as generally the primary executor is a family member or spouse / partner.

Thanks

Andy

patchwork_cat

Pee wrote: »

It would be entirely inappropriate to appoint the 19 year old executor.

Do you have any family or friends your own age who are trustworthy, honest and with similiar views to you? Sometimes a brother or sister can be perfect, sometimes the last person you would choose.

I would think very carefully about marrying someone who you do not appear to want to maintain. When you get married you promise it's for better or worse and legally you have an obligation to maintain a spouse. You also have to consider that the sometimes marriage does end in divorce, and your house might not end up being your house then.

You should think carefully about what you want. A fit, healthy husband may not require much provision, but surely if the house was sold you would want something to go to him. When your children are a few years older and set up and your husband is retired and you have been married 20 years will you still feel that split is appropriate? Especially if he gave up work for years to care for you or is unwell himself? Think carefully about what you want and then pay for the Will to be done properly. (It may well be £200 for a life interest will, but worth many times that when something happens.) Please review it regularly as your life progresses.

I don't agree at all. No it is not perfect to have a 19 year old as executor, but it may be they are the best choice.

Alter_ego

AndrewSmith wrote: »

Not true, an executor can most certainly be a beneficiary.

Yes that's exactly what I said, read it again.