Cheap will

Hello,
I am new and my circumstances have changed. I would like to write a basic will where all of my assets after death go to my Son only. He is only 10 years old atm, but would receive when he is an adult.
Please advise of the best, cheapest and legally binding will that will do this for me.
I am on a budget and haven't really got the funds for this, but I will put a few hundred aside to sort this out asap. 
Many thanks,

Comments

  • Brie
    Brie Posts: 14,082 Ambassador
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    We're coming up to "free" will month.  You book an appointment with a lawyer who does the work for free but you pay a fee (maybe £75??) to a named charity.  

    You can also do your own but I think given that you intend to name a minor some advice might be useful.  What happens with your estate if you die before your son is 18?  Obviously you will want a trusted individual to deal with a situation like that. 
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  • Brie
    Brie Posts: 14,082 Ambassador
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards.  If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.

    "Never retract, never explain, never apologise; get things done and let them howl.”  Nellie McClung
    ⭐️🏅😇
  • p00hsticks
    p00hsticks Posts: 14,240 Forumite
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    Gus21 said:
    Hello,
    I am new and my circumstances have changed. I would like to write a basic will where all of my assets after death go to my Son only. He is only 10 years old atm, but would receive when he is an adult.
    Please advise of the best, cheapest and legally binding will that will do this for me.
    I am on a budget and haven't really got the funds for this, but I will put a few hundred aside to sort this out asap. 
    Many thanks,


    From what you say, I'm guessing that you are married but separated and not the primary carer for your son ?
    If you are the primary carer, then your will needs to be more than 'basic' as it should cover who you would like to care for your son in the event of your death, and whether they will be allowed to use some of the money you leave to help towards the costs involved in bring him up to the age of 18.
    Even if you are not the primary carer, then if the person who currently is died before he reached 18, is it still possible that you could end up looking after him ? If so the above points would then still need to be important to cover.
    If you are not married, your son is your only child, and you are living in England or Wales, then the intestacy laws mean that your son would inherit everything automatically.
  • Yes, take advantage of "free will" month and get a Will made by a solicitor. It's really important to get legal advice and have your Will drafted by a professional, when dependents are involved it's too important to just have a very basic DIY Will and hope it is sufficient.
  • SeniorSam
    SeniorSam Posts: 1,673 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I recently received an e-mail from Help Appeal - Wills & Legal Services stating that for a donation of £40 to County Air Ambulance Trust Help Appeal they would writ your Will for you. Many solicitors also offer a free will writing in return for a donation to a Charity.
    I'm a retired IFA who specialised for many years in Inheritance Tax, Wills and Trusts. I cannot offer advice now, but my comments here and on Legal Beagles as Sam101 are just meant to be helpful. Do ask questions from the Members who are here to help.
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