Will - excluding a child

fannyanna

POPPYOSCAR wrote: »

But what about if the Life Assurance policy was written under trust for certain named children?

Oh, I've got no idea to be honest

POPPYOSCAR

molliejo wrote: »

Oh god, I never even thought of that. I know the kids would be well looked after by their Dads if anything happened to me but the thing that would upset me is if my older three never saw the youngest one, they all love him so much!! Can you make a provision for that in a will?

Very much doubt that, how would it be enforced?

Perhaps your ex would do a 'Bob Gedolf' and take him on to be with his siblings!(assuming his dad was not around either).

molliejo

fannyanna wrote: »

Yes and as callous as it sounds I may need to protect my money from my husband for inheritance purposes. If his children can have a claim to his money I would imagine that without a will his estate would be deemed to be 50% of what we have as a couple.

In reality more money has come from me and whilst I am happy with his children having a share of his money I am not happy for them to have a share to my money.

I therefore need to speak to a solicitor to establish what is the best thing for us to do going forward.

It does sound callous but I couldn't agree more, the problem I would have is deciding what share I deem to be mine. I think I need to see a solicitor too.

molliejo

POPPYOSCAR wrote: »

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Very much doubt that, how would it be enforced?

Perhaps your ex would do a 'Bob Gedolf' and take him on to be with his siblings!(assuming his dad was not around either).

If his Dad wasn't around either, he probably would tbh!!

DUTR

fannyanna wrote: »

Oh I will be but I normally like to try and get an idea of something first but I must confess I’ve found this one a bit difficult to research online.

I understand that a provision would need to be made for a maintained child but don’t really understand how that provision is made. Whether it’s 15% of the Father’s estate (same amount of CSA liability) or what the Father would have had to pay up until the child reached 19.

Say there was £100,000 in the Fathers estate……

Option 1 would mean £15,000
Option 2 (if liability was £50 per week for a 9 year old) would mean £26,000

As you said all will become clear I’m sure on speaking to a solicitor.

Already answered in another post (by me) just done my new will 2 weeks ago, it's not 15% of the estate, say there was 5yrs to run and cs was £5k per year, then the statement has to be written as if the testator dropped down tomorrow, hence in the above example £25k, trusted until 19th b/day , this can be dipped into with good cause , eg CS, by the time they are 19, there would be little/nothing left (naturally, the statement needs to be reviewed every other year say.

POPPYOSCAR

molliejo wrote: »

If his Dad wasn't around either, he probably would tbh!!

I think that is really nice to know.

fannyanna

DUTR wrote: »

Already answered in another post (by me) just done my new will 2 weeks ago, it's not 15% of the estate, say there was 5yrs to run and cs was £5k per year, then the statement has to be written as if the testator dropped down tomorrow, hence in the above example £25k, trusted until 19th b/day , this can be dipped into with good cause , eg CS, by the time they are 19, there would be little/nothing left (naturally, the statement needs to be reviewed every other year say.

Ok thank you DUTR. I understand the concept.

As both of my Husbands children are under 10 there is a potential that in total £47k would need to be put in trust to keep them maintained until the age of 19 (on the presumption that they remain in full time education).

There’s one thing I still don’t understand though…..

What if my husband died (without a will) and between us we had £50k.

• Would I get the first £25k and the remaining £25k goes towards the trust for the children (and they suffer a shortfall); or
• Would the first £47k go to the children for their trust and I’d get the remaining £3k (with me suffering the shortfall)?

Once again I will be seeking legal advice but I wondered if you might have an idea what the correct answer would be in this situation considering you’ve just had your will written.

POPPYOSCAR

fannyanna wrote: »

Yes and as callous as it sounds I may need to protect my money from my husband for inheritance purposes. If his children can have a claim to his money I would imagine that without a will his estate would be deemed to be 50% of what we have as a couple.

In reality more money has come from me and whilst I am happy with his children having a share of his money I am not happy for them to have a share to my money.

I therefore need to speak to a solicitor to establish what is the best thing for us to do going forward.

It does not sound callous, I understand your thinking.

But does this mean that you will not leave your share to your husband if you were to go first?

POPPYOSCAR

fannyanna wrote: »

Ok thank you DUTR. I understand the concept.

As both of my Husbands children are under 10 there is a potential that in total £47k would need to be put in trust to keep them maintained until the age of 19 (on the presumption that they remain in full time education).

There’s one thing I still don’t understand though…..

What if my husband died (without a will) and between us we had £50k.

• Would I get the first £25k and the remaining £25k goes towards the trust for the children (and they suffer a shortfall); or
  [*]Would the first £47k go to the children for their trust and I’d get the remaining £3k (with me suffering the shortfall)?

Once again I will be seeking legal advice but I wondered if you might have an idea what the correct answer would be in this situation considering you’ve just had your will written.

Really can't see how your money could be used to supply any shortfall from your husbands estate?

DUTR

fannyanna wrote: »

Ok thank you DUTR. I understand the concept.

As both of my Husbands children are under 10 there is a potential that in total £47k would need to be put in trust to keep them maintained until the age of 19 (on the presumption that they remain in full time education).

There’s one thing I still don’t understand though…..

What if my husband died (without a will) and between us we had £50k.

• Would I get the first £25k and the remaining £25k goes towards the trust for the children (and they suffer a shortfall); or
• Would the first £47k go to the children for their trust and I’d get the remaining £3k (with me suffering the shortfall)?

Once again I will be seeking legal advice but I wondered if you might have an idea what the correct answer would be in this situation considering you’ve just had your will written.

Then you would have £50k (don't kill him), in intestate, the spouse/civil partner comes 1st.