Advice on wording in a draft will

Yorkshireman99

74jax wrote: »

If I got divorced I'd get more..... maybe you have a point....


A few people have said for him to leave it all to me and me to then distribute. The thing is, this was what he wanted. But he had specifics that he wanted me to do. ie £xxxk to one nephew £xxx to nephew 2, xyz to sister etc, and so on.
I have always had a will and check it every 5 years or so, I believe that a will is the last way of expressing your wishes.
Yes he could have left it to me to distribute, but I feel so much more at ease with a will. I have also dealt with my dad's will and can't imagine having to do it with someone as close as a husband. I would much rather his last wishes were from him and not 'via' me.


We are also talking a lot of money, it could be seen in the future that it is classed as me depriving myself of assets etc.

He needs to understand what happens under the intestacy rules if he does not make a ill. Even a simple will leaving everything to you is better than none.

Mojisola

74jax wrote: »

A few people have said for him to leave it all to me and me to then distribute.

And what would happen if you died before him?

A good will should cover several different eventualities.

74jax

Yorkshireman99 wrote: »

He needs to understand what happens under the intestacy rules if he does not make a ill. Even a simple will leaving everything to you is better than none.

He's quite happy with the rules, that's the problem. However now his mum is in a home I think I've convinced him to make one as he would be in effect leaving it to the care home and not his mum. At least with a will his nephew's benefit.

AnotherJoe

74jax wrote: »

If I got divorced I'd get more..... maybe you have a point....


A few people have said for him to leave it all to me and me to then distribute. The thing is, this was what he wanted. But he had specifics that he wanted me to do. ie £xxxk to one nephew £xxx to nephew 2, xyz to sister etc, and so on.
I have always had a will and check it every 5 years or so, I believe that a will is the last way of expressing your wishes.
Yes he could have left it to me to distribute, but I feel so much more at ease with a will. I have also dealt with my dad's will and can't imagine having to do it with someone as close as a husband. I would much rather his last wishes were from him and not 'via' me.

We are also talking a lot of money, it could be seen in the future that it is classed as me depriving myself of assets etc.

There are potential tax implications doing it that way especially with large sums of money. (that and deprivation of assets, as you say)

Suppose he dies aged 90, leaves it all to you, you give all those amounts away as requested and then peg out a few months later (or indeed within the next 7 years) , now there may well be IHT to pay.
Had it gone direct to the relatives, no such issue, no tax on that.

Tom99

AnotherJoe wrote: »

Suppose he dies aged 90, leaves it all to you, you give all those amounts away as requested and then peg out a few months later (or indeed within the next 7 years) , now there may well be IHT to pay.
Had it gone direct to the relatives, no such issue, no tax on that.

The IHT would be the same or less as if all left to wife, wife will have extra £325k NRB to cover the gifts.