Is this will now defunct?

Crabapple

In the mists of time before the transferable nil-rate band then for IHT saving.

Maybe in divorce proceedings if they couldn't be finalised to avoid the spouse getting loads rather than what they would be entitled to under divorce proceedings.

Afaik you would have to join a spouse or even an estranged child into proceedings so it would be hard to cut someone out by statutory will.

Yorkshireman99

Crabapple wrote: »

In the mists of time before the transferable nil-rate band then for IHT saving.

Maybe in divorce proceedings if they couldn't be finalised to avoid the spouse getting loads rather than what they would be entitled to under divorce proceedings.

Afaik you would have to join a spouse or even an estranged child into proceedings so it would be hard to cut someone out by statutory will.

Noted. It does not sound like a runner to me. The costs would be huge.

Crabapple

Yorkshireman99 wrote: »

Noted. It does not sound like a runner to me. The costs would be huge.

Agreed! I think if there was an IHT saving it might prove cost effective but not otherwise.

Justchecking4

Apologies for the delay in responding.

Firstly, thanks for all of your replies. We were amazed by the depth of knowledge and information provided.

Friend has had it confirmed that parents jointly owned all of the property, so that sounds straight forward and goes to dad (along with the funds previously held in their joint account).

Dad has never driven anything, so the car will likely be treated by family as part of mum's estate, along with her sole account (I think the family intend to use this to help with future costs, whilst sons apply to be COP deputies).

Neither son has any desire to initiate a complicated and costly process for a 'statutory' will, which may not even be successful; they have a good relationship with the oldest grandson and both sons feel the 'deed of variation' process would be the sensible approach. As beneficiaries, both brothers are keen to respect their mum's wishes, with regards to splitting the estate equally between themselves and mum's oldest grandson (who is an adult) when the times comes. Understandably, they feel that their mum and dad would have wanted this.

I think everyone's replies have summed this up, so thank you very much for taking the time to help.