Advice on changing will

jackyann

Hello all, lots of sensible people on here, so thought I'd run this by you before I go to solicitors (or possibly leave things as they are)

I have 4 children who will inherit my estate (actually some will go to grandchildren, but that is separate). 3 are married, the other in a stable, 10 year old relationship. All now are buying houses with their spouses / partner.
Should one of my children die before they inherit, I would like the money to go to their partner / spouse - the will does not at present state this.

At present, the easiest thing to do seems to be to leave as is, should one of my children die, I will change my will. The pitfall of this is the possibility of us dying together (say in a car accident) or my becoming incapacitated so that I cannot change my will.

If I change my will to reflect my wishes, then the possibility arises of relationship breakdown. However,at present, given the nature of these relationships, and the place of these partners in my life over many years, I would rather risk money going to an estranged partner, than them miss out.

Following Yorkshireman's advice of 'review your will every 5 years' I'm about due - I do in fact give it a cursory thought every January, but have not thought of the need to change until now.

Advice and experience welcome - many thanks

getmore4less

What is the current situation if one of the kids passes before you?

don't forget section 33 and Per stirpes.

Keep_pedalling

The easiest thing is not the right thing. Don't delay get an appointment with a local solicitor to get a new one drawn up. They should go through all the what if situations including the ones you have not thought about.

jackyann

getmore4less wrote: »

What is the current situation if one of the kids passes before you?

don't forget section 33 and Per stirpes.

These are not intended to apply, as the grandchildren inherit separately (a trust, taking into account any born after my death)
So at present, any bequest that couldn't be passed on, then goes into the pot to be shared by the other 3.

Yes, I am going to a solicitor, but have found this forum so useful, that it makes sense to ask and think before going in and taking up more of their time than necessary.

TBagpuss

I'd talk it through with your solicitor. I believe that it is perfectly possible to make a gift conditional (so you could leave the share to your child's spouse / partner on condition that they were married (or married and and living together) as at the date of their spouse's death.

Or you could amend the will if any of them separate - divorce takes a while, and the chases of you and your child dying simultaneously between your child and their partner deciding to split up, and you having time to change your will, are fairly remote.