Will wording question.....

gt568

I just want to confirm that I've got things straight in my will....

I have 3 executors and trustees...

The wording goes along the lines of:

Provided my wife survives me for 28 days I give my estate share and interest in XXXX Road to my trustees and I declare no sale shall be made during the lifetime of and for so long as she chooses to live in the property <snip> load of stuff about keeping property in good repair etc <snip> and upon death of my wife upon trust for my son XXXXX XXXXX absolutely.

So am I right in thinking when I die, my "trustees" look after my share of the property (and my share is held in trust basically) until my wife passes , at which point my share of the property passes to my son?

Thats what I want...

TBagpuss

who has prepared the will? What have they advised you?

In a trust of that kind it is often sensible to build in an option to allow your wife to move to a new property, to be held on simialar trusts, if she wished or needed to do so

gt568

TBagpuss wrote: »

who has prepared the will?

I did.........

Keep_pedalling

Probably best to get this done by a professional, skimping on wills may save you a small amount but could cost your chosen beneficiaries dearly.

Have you even thought of the possibility of your son dieing before your wife?

gt568

Keep_pedalling wrote: »

Have you even thought of the possibility of your son dieing before your wife?

Yep, got a clause in for that as well further down the will.

Just wanted to make sure that the first but was correct.

DandelionPatrol

If you are specific about xxxx Road and later move house before dying, then of course, that bequest will fail and the property you own at death will become part of your intestate estate.

G6JNS

gt568 wrote: »

I just want to confirm that I've got things straight in my will....

I have 3 executors and trustees...

The wording goes along the lines of:

Provided my wife survives me for 28 days I give my estate share and interest in XXXX Road to my trustees and I declare no sale shall be made during the lifetime of and for so long as she chooses to live in the property <snip> load of stuff about keeping property in good repair etc <snip> and upon death of my wife upon trust for my son XXXXX XXXXX absolutely.

So am I right in thinking when I die, my "trustees" look after my share of the property (and my share is held in trust basically) until my wife passes , at which point my share of the property passes to my son?

Thats what I want...

If you are thinking of DIYing the will then don't. The small amout it costs to get it done by a solicitor, not a will writing firm, is worth every penny.

jackieblack

I agree with others who have advised not to DIY this will. I was a trustee of a trust from a DIY will (the person with a life interest has since passed and the trust wound up), the legal bills to resolve the problems caused by the DIY will were substantial and, because of legal limitations and restrictions of what can and cannot be done regarding trusts, the end result was in no way able to be what my friend had wanted or intended to achieve.

If you think it's expensive to pay a professional to carry out a job like this, you would be horrified by the cost incuurred by having an amateur attempt it!

PasturesNew

Our will said spouse to stay in the house while they were still able to maintain it. It gave the executors the ability to push the spouse out if the house became delapidated and if the remaining spouse were unable to live a safe/clean life through something like dementia etc.

The Will provided for the spouse to be housed etc for life, but not necessarily in a house that might become a burden and inappropriate for their needs.

TBagpuss

I agree with the previous posters. If you are needing to check with an internet forum about the wording you should not be trying to do s DIY will.

There are issues with regard to the gift failing if your address changes, you do not appear to have provided for the scenario of your wife needing or wishing to move house, or what may happen should she need residential care.

It is a false economy not to get this done by a professional. Find a solicitor (*not* a will-writer)

FreeBear

TBagpuss wrote: »

It is a false economy not to get this done by a professional. Find a solicitor (*not* a will-writer)

The advantages of having a solicitor draw up a will:

• He/She will ensure the correct wording is used to avoid potential confusion.
• Should advise on any possible conflicts and suggest alternatives.
• Will be familiar with current case law* and be able to advise accordingly.
• Will be able to advise on current Inheritance Tax laws to reduce any possible liabilities.
• Will provide witnesses to your signature.
• Can keep the original on file in a safe location free of charge.
• Will often register the will with the national will register.
• Can provide documentation supporting the validity of the will after death should there be any disputes (google 'larke v nugus')

* See Ilot-v-Mitson if you have any children - This type of ruling should be of concern to anyone wanting to disinherit any children or favour one over another.
Note: Scottish law has its own take on children, so proper legal advice is essential if you're north of the border.

Disadvantages of a DIY will:

• Poorly worded
• Fails to reflect your true wishes.
• Mistakes made during witnessing (common one is for a beneficiary to act as a witness)
• Can be lost or destroyed accidentally if kept at home.
• Plenty of scope to challenge validity or contents after death.

If you are concerned about the cost of having a will drawn up professionally, you could wait for Will Aid to kick off later in the year.