Leaving a will

vertex

Hi.
Im due to become an Uncle soon. I dont have a will set up, so Id like to leave anything I have to my nephew. Whats the best way of going about this? I hear they sell wills in Boots. Are these legally legit documents? Do I need to get the permission of the parents first? (Im sure they wont have a problem with it!)
Thankyou.

SeniorSam

Hi Vertex,

yes, you can buy a simple Will form from many outlets - W.H.Smiths always have them. They offer full instructions, so you should not have a problem. You may wish to review your Will periodically, as matters change in life and you may inherit or gain wealth before you die and may then wish to distribute that wealth to others. Easily done.

Good luck

Sam

CLAPTON

'wills' you buy are basically empty documents into which you write your wishes.

you need to think carefully about your wishes

do you really want to leave everything to you nephew or do you want to leave everything to your nephews and nieces (even if they haven't been born yet?)

and you don't need their parents permission.

xylophone

Why not see a solicitor, especially if the estate is substantial and especially as your nephew might inherit as a minor?
You might also wish to make provision for children yet unborn or cover other eventualities.

SailorSam

The Will kits you buy in the likes of the Post Office are basically a blank sheet of paper with a printed heading. You may get a simple pamphlet of instructions with it.
If you're going down the line of a Diy Will you may as well get a book from your library or Google some examples and print it off yourself.
Periodically Solicitors will give their services free and draw up a will if you make a donation to local charities.

kidmugsy

Congratulations on your decision, vertex: very wise. The comments you've received seem pretty helpful too.

McKneff

Try Ageuk.

loubel

I wouldn't recommend writing your own Will unless you have an understanding of the process, as it's easy to make a mistake that might not be picked up until it was too late.

November is Will Aid month, so a good time to write your Will and benefit charities at the same time.

verydeeppockets

Use a solicitor who specialises in wills. If you can get it for free during the charity promotion, all well and good. It's not worth the risk trying to write it yourself - one wrong word and the cats home will get it all. Same reason I wouldn't try and write myself a prescription really - it's too specialised.

John_Pierpoint

One swallow does not make a spring BUT I am the nephew and an executor of an Uncle's will:

The solicitor who wrote the will made an elementary mistake - left money to someone without making arrangements for what happened to that bequest if the someone died first ! [The result is a partially intestate estate - the worse of both worlds.]

I found a "STEP" solicitor and created "a deed of variation" (If the effected beneficiaries agree a will can be changed within 2 years of the death). He could not tell me the tax consequence of an idea I had ("I have never done it") and he made a mistake in the wording that covered the payment of IHT & CGT.

There is nothing quite like doing your own research as you have lots of time to mull over what you want to do.

http://www.amazon.co.uk/Giving-Inheriting-Which-Essential-Guides/dp/1844901181

Beware of the nephew discovering he is in line to become a "trustafarian" (Google?). How you handle this potential situation is up to you and obviously depends on the age and character of the beneficiary (and his parents). The prospect of an inheritance should be an opportunity but is more likely to be demotivating?
In gold rush Canada landlords used to put up signs that read: No dogs, no remittance men .

Here is an example recalled 60 years ago:

Edmonton has had its share of remittance men. and there was a time when employment advertisements here said. 'No Englishman need apply.' But that was a long time ago. The British— the right type of British who are willing to work hard — are welcome.

http://trove.nla.gov.au/ndp/del/article/45718479#pstart3198000

booler

Loubel is right. Use a qualified lawyer next month and what you pay £90 will go to charity. My wife and I did this last year.

You can search by postcode on the http://www.willaid.org.uk/ website to find local lawyers who are participating.