New will or not new will

Mojisola

SmlSave wrote: »

If you want to change your Will please don't use Will writers. Pay a bit more for solicitors and ones that store for free

Don't you mean - pay a bit less?

Will writers might quote a lower price to get the job but they end being more expensive because they find 'extras' to charge for that are included in the normal price from a solicitor.

dithedancer

Hi again. Well I did listen to the lady from the wills and legal services company and told her I wouldn't be agreeing to anything never mind signing for anything today until I had spoken to my solicitor, to which she was quite happy with. I thought it would be straight forward when I finally die that my assets and property would go to my children if it stated so in my will but apparently not. Now it as left me totally confused of what to do. She talked about trusts and gifting to my kids. To be truthful it as left me thinking that I should just sell my property, move into rented accommodation and stuff what's left under the mattress leaving instructions to tell where it is. I'm 55 in good health, employed and don't intend going into any care home yet but we talked about a legal power of attorney, £110 but that is just to register. A home protection trust would be £895 + VAT. Honestly I would have spent there inheritance on legal services.

Yorkshireman99

dithedancer wrote: »

Hi again. Well I did listen to the lady from the wills and legal services company and told her I wouldn't be agreeing to anything never mind signing for anything today until I had spoken to my solicitor, to which she was quite happy with. I thought it would be straight forward when I finally die that my assets and property would go to my children if it stated so in my will but apparently not. Now it as left me totally confused of what to do. She talked about trusts and gifting to my kids. To be truthful it as left me thinking that I should just sell my property, move into rented accommodation and stuff what's left under the mattress leaving instructions to tell where it is. I'm 55 in good health, employed and don't intend going into any care home yet but we talked about a legal power of attorney, £110 but that is just to register. A home protection trust would be £895 + VAT. Honestly I would have spent there inheritance on legal services.

Home protection trust claim to protect your assets from being used to pay care costs. They don't A sure sign of a company to avoid at all costs.

Savvy_Sue

Di, it's not their inheritance until you're dead, and even then it's only theirs if you leave it to them.

You could have another 40 years of active life ahead of you, by all means think about future proofing your current home or moving into one which is easy to move around and look after, but there is no need to do anything complicated. Leaving yourself adequate resources to enjoy those years of life, and keeping flexibility while you're at it, is surely more sensible than tying them up in trusts which probably won't work to 'protect' anything anyway.

Out of interest, where exactly did this will writer suggest your estate would go if you left it to your children, if not to your children?

Power of attorney is worth thinking about: if something suddenly happened to you to make it difficult for you to manage your own affairs, having one in place would make life much easier for someone you choose to organise your finances etc. You can DIY if you approach it methodically, but it is complicated so we decided to use our solicitor when we re-wrote our wills.