We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Help with Will wording for a property that is not yet ours...
andrewjemima
Posts: 18 Forumite
Hello
I would like some advice on wording for our will.
My mother died earlier this year, leaving me (as the only child) her whole estate including her property. We have applied to the Land Registry a transfer of our names on the title deed for this property.
We are waiting for this to be done, in the meantime, we want to update our wills to reflect this as we are going on holiday soon. What is the best wording to do this as a paragraph - can someone here advise please (it will be added as a codicil for now)?
Many thanks,
Jemima
I would like some advice on wording for our will.
My mother died earlier this year, leaving me (as the only child) her whole estate including her property. We have applied to the Land Registry a transfer of our names on the title deed for this property.
We are waiting for this to be done, in the meantime, we want to update our wills to reflect this as we are going on holiday soon. What is the best wording to do this as a paragraph - can someone here advise please (it will be added as a codicil for now)?
Many thanks,
Jemima
0
Comments
-
andrewjemima wrote: »I would like some advice on wording for our will.
My mother died earlier this year, leaving me (as the only child) her whole estate including her property. We have applied to the Land Registry a transfer of our names on the title deed for this property.
We are waiting for this to be done, in the meantime, we want to update our wills to reflect this as we are going on holiday soon. What is the best wording to do this as a paragraph - can someone here advise please (it will be added as a codicil for now)?
Why do you need to specify the property?0 -
-
andrewjemima wrote: »Hello
I would like some advice on wording for our will.
My mother died earlier this year, leaving me (as the only child) her whole estate including her property. We have applied to the Land Registry a transfer of our names on the title deed for this property.
We are waiting for this to be done, in the meantime, we want to update our wills to reflect this as we are going on holiday soon. What is the best wording to do this as a paragraph - can someone here advise please (it will be added as a codicil for now)?
Many thanks,
Jemima
1. Ask a solicitor if really unsure but ......
2. Why do you think inheriting a property makes any difference to your will? Hopefully your current house isn't specified in your will?0 -
andrewjemima wrote: »Because one ought to do that in a will, naming the property at the address, and it is not yet in our names. And a will is an instruction to others on what to do with this specific property if we die.
Actually one ought NOT to do that in a will unless really specific and unusual circumstances apply !0 -
AnotherJoe wrote: »1. Ask a solicitor if really unsure but ......
2. Why do you think inheriting a property makes any difference to your will? Hopefully your current house isn't specified in your will?
Our current property is specified in our will. We dont want to ask a solicitor as we have already paid too much so far... just asking for advice here, guys...0 -
AnotherJoe wrote: »Actually one ought NOT to do that in a will unless really specific and unusual circumstances apply !
Ok understood, we would update our will once the new property is in our names. Its just the interim we are concerned about as transfer of title deeds may not be completed before we go on holiday.0 -
andrewjemima wrote: »Because one ought to do that in a will, naming the property at the address, and it is not yet in our names. And a will is an instruction to others on what to do with this specific property if we die.
It can be a unwise move because you will need to change your will every time you buy or sell property.
It can also lead to unintended consequences - if a property is left to a person and other assets left to another but the property is no longer in your possession at your time of death, one person's inheritance will fail.
As far as your current problem goes, just name the property - the ownership name change is in progress - you are, in effect, already the owners.0 -
It can be a unwise move because you will need to change your will every time you buy or sell property.
It can also lead to unintended consequences - if a property is left to a person and other assets left to another but the property is no longer in your possession at your time of death, one person's inheritance will fail.
As far as your current problem goes, just name the property - the ownership name change is in progress - you are, in effect, already the owners.
Thank you very much, that is very useful. We will do that. :j
0 -
No. Naming the property just complicates things. What if your estate outside the popety is insuficiet topay debts, Inheritance Tax etc? The property might need tobe sold. That's just one example.andrewjemima wrote: »Because one ought to do that in a will, naming the property at the address, and it is not yet in our names. And a will is an instruction to others on what to do with this specific property if we die.
Unless there is a specificreason for wanting to leave the property to a specifc person far better to deal with the estate as a whole eg
* specific bequests (picture to John; £1000 to Jill)
* and then "the residue to Paul" (or Paul and Pete equally). This will include any property owned at the time.
Paul and Pete can then decide whether to
* sell the propertyy and split the £ or
* keep the property in their joint names (to live in together or let out)
* keep the property with one of them buying the other out of his share
If you're not convinced, don't do a DIY will - go and see a solicitor - free if go via some charities.....eg
https://www.cancerresearchuk.org/get-involved/donate/leave-a-legacy-gift-in-your-will/free-will-service0 -
andrewjemima wrote: »Our current property is specified in our will. We dont want to ask a solicitor as we have already paid too much so far...
If that solicitor told you that you had to specify property addresses, find a new solicitor.
Either s/he isn't very knowledgeable or s/he wants you to have to make new wills again and again so s/he can make money out of you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards