Making a will

fin7

My father died in January, my mum is now in residential care with Alzheimer's, its made me realise that my family is shrinking and I need to make some arrangements for my 16 year old. I'm going to make a will leaving everything to her but I wanted to get a bit of advice before I head off to the solicitors because I'd like a few things clear to myself, if that makes any sense?

Can she legally inherit everything at 16? I own the house we live in and have a small amount in savings. I have a brother that I wouldn't trust as far as I could throw to be honest, my daughter doesn't want a relationship with her father, long history and I can't say as I blame her really. I know she's not classed as an adult until she's 18 but can she inherit everything or will she need a guardian?

I have discussed it with her, she knows my brother can't be trusted but isn't happy about her father having anything to do with things but I'm sure that if anything happens to me before she reaches 18 he will become her guardian? Can I name someone else to handle her financial affairs until she reaches 18? Can she leagally live in the house at 16?

fin

SailorSam

I thinkyou could live in the house, after all lots of kids leave home and get a flat at that age, but i'm sure you need to be an adult (18) to own a property. You'll need to set up a trust.

What Age Do You Need to Be to Inherit a Trust From a Will? | eHow.co.uk

callow

I am in a slightly similar situation, although my parents are elderly and live in Australia with the rest of my family.

I have organised executors/trustees for my children (they are a friend, brother in law and solicitor). I have also organised for a family income policy to pay for a housekeeper to look after my children who are now 11 and 13. The family income policy is not that expensive (mine is less than £18 a month and this will give £5000 a month for the next 8 years). The reason it is not too expensive is the amount decreases each year that they have to pay if I were to die. The £5000 a month will cover wages, day to day living and solicitor expenses (I own the house). Any left over money will accumulate and be given to them at the end. I have probably been over generous with the £5000 a month but I didn't want a shortfall.

You could organise a similar thing and as your daughter is 16 you will not need to cover so many years. A solicitor may be prepared to act as a legal guardian and trustee along with a friend (you do need two people). That way your daughter can live in the house. I have done it this way because as they get older it is difficult to move schools due to the courses they take at GCSE and A level.

I know that doing this has given me peace of mind that my children will be looked after

fin7

Thanks for the info, I'll have a good look at the link. I hadn't realised that you needed two people to stand as gaurdians, something I'll need to sort before I go to see the solicitor.

RAS

Ask your daughter who she would want to live with?

fin7

Well she says she doesn't want to live with either of them! I'm wondering if her father will become her legal gaurdian because of the fact he is her father.

RAS

He would by law, but at that age she could refuse to live with him. So one thing you really need to sort out is that he cannot access any of the benefits of the will, like move in the house.

What I mean is that since she does not want to live with either dad or uncle, who would she want to live? A friend? The parents of her best friend?

fin7

RAS wrote: »

He would by law, but at that age she could refuse to live with him. So one thing you really need to sort out is that he cannot access any of the benefits of the will, like move in the house.

What I mean is that since she does not want to live with either dad or uncle, who would she want to live? A friend? The parents of her best friend?

This is something I'll have to discuss more with her. It's not so much the living arrangements that worry me, its the financial side of things.

Savvy_Sue

fin7 wrote: »

This is something I'll have to discuss more with her. It's not so much the living arrangements that worry me, its the financial side of things.

both sides of this would worry me, tbh. Have you ever watched Skins? :rotfl:

Having said that, I'm not sure I have any answers. If she thinks she's old enough to live alone, she will. The best thing would be for her to know who she could turn to, and who would be there for her.

But finally, you do all these things and hope your provisions will never be needed! Given that she's 16, there IS a good chance that they won't, presumably.