Will questions

[Deleted User]

It sounds a terrible idea. What would be the consequences if that time frame isn't or can't be met?  Would the executor need to pay some sort of penalty?

If so, no one will want to take on the role. 

Keep_pedalling

WestWestley said:

So I've been in touch with the charity, as Macron suggested. Not sure they're that keen, though. They're a relatively small charity and are not really set up for such things. They're going to talk to a solicitor to see what he says, but I think they're erring on the side of no, so I might be back to this will.

Anyone any thoughts on my idea of having a clause in the will that states assets would need to be sold and distributed to the charities within 12 months? (or perhaps 18 months or 2 years might be better, if 12 months is too short?)

No, totally pointless and unenforcible. You are really worrying over nothing here.

Have you been back to the solicitor to ask for clarification of the wording yet?

One final question, does the draft will deal with the possibility that at the time of your death the charity may not be in existence any longer? There is a high risk that a small local charity may have folded or been merged into a larger one by the time a testator dies.

WestWestley

Ok, fair enough, I can see why the time limit could be a bad idea in some respects. Surely you could put some sensible level of time limit, on, though? Say 5 years? I'm just concerned a trustee could just hold funds forever and never give the money over to the charities. I mean, who could stop them if there's no time limit?

Is it maybe also a good idea to send copies of the will to the beneficiary charities?

@Keep_pedalling With regards to what happens if a charity doesn't exist at the time of my departure, I have that covered with a "backup" big name charity.

Incidently, what if the solicitors closes down? Is there always another solicitors there to take over (buy, maybe?) these sorts of wills, for them to then become the executors on death?

 

WestWestley

So in a rather strange twist, the charity finally got back to me and confirmed they'd rather have the solicitors take on the role of executor.

But, get this, the solicitor handling my will suddenly tells me they were leaving in the firm (looks they also took their secretary with them), and because I'd asked the will to be redone in more plain English, they didn't have time to do it. So now it seems I have to start all over again with another solicitor in the practice!

Not sure what to make of this. I can only assume it's a strange coincidence, but who knows. But I'm tempted now to go to another solicitor instead, to be on the safer side.

Keep_pedalling

If you appoint solicitors as executors you normally appoint the firm rather than individuals within the firm. If you appoint individuals they will still be your executors if they move firms.

Should a firm close down the LS will transfer the responsibility to all existing clients to another firm, so your charity should have no trouble tracing them if required, so yes sending them a copy is a good idea.

As previously advised you do not need a clause with a time limit it is meaningless. If you did get a criminal executor they would simply ignore it and there is no body charges with overseeing an executor follows the individuals instructions in each will. Solicitors are regulated so if one did run off with all your wealth your beneficiaries will be able to claim through the regulatory body.

If you are no longe4 happy with your current solicitor firm, then pay them for the work done and choose new ones.