A will question - UPDATED I NOW HAVE ONE!

74jax

Morbid I know, however I've been wondering (no idea why) but...

I'm married and came to marriage with a house (mortgaged)and around 30k of savings. I have one 15 year old daughter.

Hubby came into marriage with an apartment (no mortgage) and much more money.

Heaven forbid but if hubby and I were to die together - car crash etc, would my daughter automatically get the house and my savings?

Neither of us has wills..... I know! I promise I will sort this, I did have until I married.

House is just in my name and is our matrimonial home and hubby's apartment is just in his name.

Thanks.

GobbledyGook

If your daughter is only your daughter then she wouldn't inherit from your husband.

74jax

GobbledyGook wrote: »

If your daughter is only your daughter then she wouldn't inherit from your husband.

No but would she get my house and money, or does that pass to hubby, but as he died with me would it go to his mum...... Maybe I'm overthinking things....

Torry_Quine

I think that if a couple die in the same incident then the oldest is deemed to have died first meaning the youngest would inherit.

74jax

Torry_Quine wrote: »

I think that if a couple die in the same incident then the oldest is deemed to have died first meaning the youngest would inherit.

So I am the oldest so everything would go to him mum..... I think I'll wrap myself in bubblewrap til I can sort a will.

Brighton_belle

Or you are killed outright and he lives 12 hrs longer - everything of yours goes to him if no will, up to a value of 350,000 (I think that's the sum, it's somewhere between 250k - 350k) and then your daughter may get anything over.
Then when he dies 12 hrs later, it will all go to his mother/other relatives of his.
So yes, please sort asap. It's not morbid, it's an act of love to sort your affairs before death.

Mojisola

Torry_Quine wrote: »

I think that if a couple die in the same incident then the oldest is deemed to have died first meaning the youngest would inherit.

This happens if there are wills but, as I understand it, under the intestacy rules, the spouse/civil partner would have to survive for 28 days in order to inherit. (That's England and Wales - I don't know about Scotland)

FBaby

These issues are the exact reason why you NEED to have a will. It is the exact situation my husband and I are in. I own my previous house and that will go to the children but he owns the house we all live in.

Our concern was what would happen if we were both to die with this house, but also, and more importantly, who would manage the funds for my children. Our biggest fear was that my ex would have rights as my kids closest next of kin. The idea that he (who has shown to be totally financially irresponsible, doesn't pay any maintenance, and have shown that his partner has him wrapped around her fingers and makes all the financial decisions) could have control of our money prompted us to see a solicitor. This allowed us to decide what would go in a Trust for them, and who would have sole control of that fund until they turn 18.

Do go and make a will. It can seem quite expensive, but is really essential in your situation.

74jax

FBaby wrote: »

These issues are the exact reason why you NEED to have a will. It is the exact situation my husband and I are in. I own my previous house and that will go to the children but he owns the house we all live in.

Our concern was what would happen if we were both to die with this house, but also, and more importantly, who would manage the funds for my children. Our biggest fear was that my ex would have rights as my kids closest next of kin. The idea that he (who has shown to be totally financially irresponsible, doesn't pay any maintenance, and have shown that his partner has him wrapped around her fingers and makes all the financial decisions) could have control of our money prompted us to see a solicitor. This allowed us to decide what would go in a Trust for them, and who would have sole control of that fund until they turn 18.

Do go and make a will. It can seem quite expensive, but is really essential in your situation.

Thanks FBaby, I'm hoping to be there this week. I've always had a will and made provisions for DD but since getting married its one of those things I haven't done :eek:

OH is quite happy not to have one and his mum inherit - I'm not best pleased but can't force him. I on the otherhand can't stop thinking about DD missing out - I don't mean if I were to die at 80+ (which I hope I do :rotfl: as I fully intend to live a decent lifestyle and not be like my parents who darent spend anything now as they won't have anything to leave us as 'inheritence' - that's so sad) but if I were to do die now. I have enough to leave her to get started in life without a mum.

I don't even know why all of a sudden this scenario of me and OH dying together has popped into my blooming head!

Errata

If you love your daughter - make a will!
Worst case scenario - no will, your OH inherits, he marries again and makes a will leaving YOUR assets to his wife, whilst your daughter has to live in a crappy bedsit, potless.

74jax

Errata wrote: »

If you love your daughter - make a will!
Worst case scenario - no will, your OH inherits, he marries again and makes a will leaving YOUR assets to his wife, whilst your daughter has to live in a crappy bedsit, potless.

In that instance I do have life insurance in her name and my death in service in her name too, but I do totally understand your point. That scenario has been in my head since we got married and I'm not sure why I didn't get one made during Will-Aid.

However what has prompted this OMG I NEED A WILL NOW is if OH and I die 'together' and his mum inherits all my stuff (because I'm older and classed as dying first as someone pointed out).

It going to OH isn't as bad as his mum - although there's nothing wrong with his mum.