Distributing Estate - no will

boingy

Mojisola said:

boingy said:

The latter is my favourite. Our exhibit is in her 50's. Single, no kids, not close to her family. She just shrugs and says the government can have it all. And that's her right, I think. Who are we to tell her any different?

She might not be close to her family but, if she has any blood relations, they will get her estate.

It only goes to the government if there's absolutely no blood relatives left alive.

She doesn't care. She'll be dead. 

Spendless

boingy said:

As well as thinking it's unlucky there are loads of other reasons people don't make a will.

The obvious one is laziness/prevarication here are others I've come across recently amongst family and friends (wills are a hot topic due to several family deaths in recent months!)

Not wanting to think about dying.

Not wanting to discuss money and property with a stranger (this is a surprisingly popular one, especially amongst the older folks).

Not wanting to upset anyone by favouring someone else. 

Not wanting to deal with a solicitor.

Just not caring what happens to the money!

The latter is my favourite. Our exhibit is in her 50's. Single, no kids, not close to her family. She just shrugs and says the government can have it all. And that's her right, I think. Who are we to tell her any different?

And then there is our distant uncle who always refused to make a will but when he died it turned out he had one. He just didn't want to discuss it with anyone! 

Actually I like his style but how did anyone think to look to see if there was one after he died.?


Our solicitor told us we needed to think of our will as a living one and he expected to see us back to update it every 4 years or so. Now that might be due to the life stage we're at, one adult child about to marry next month and the other about to start degree.

He then mentioned his own parents will still mentions who they would wish to fetch him up should they have died whilst he was a child. He's now 35 and a qualified solicitor and still can't persuade them to update their will. 

Keep_pedalling

Spendless said:

boingy said:

As well as thinking it's unlucky there are loads of other reasons people don't make a will.

The obvious one is laziness/prevarication here are others I've come across recently amongst family and friends (wills are a hot topic due to several family deaths in recent months!)

Not wanting to think about dying.

Not wanting to discuss money and property with a stranger (this is a surprisingly popular one, especially amongst the older folks).

Not wanting to upset anyone by favouring someone else. 

Not wanting to deal with a solicitor.

Just not caring what happens to the money!

The latter is my favourite. Our exhibit is in her 50's. Single, no kids, not close to her family. She just shrugs and says the government can have it all. And that's her right, I think. Who are we to tell her any different?

And then there is our distant uncle who always refused to make a will but when he died it turned out he had one. He just didn't want to discuss it with anyone! 

Actually I like his style but how did anyone think to look to see if there was one after he died.?


Our solicitor told us we needed to think of our will as a living one and he expected to see us back to update it every 4 years or so. Now that might be due to the life stage we're at, one adult child about to marry next month and the other about to start degree.

To go somewhat off topic are you aware of the gift in consideration of marriage IHT exemption?

https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm14191

RAS

Spendless said:

He then mentioned his own parents will still mentions who they would wish to fetch him up should they have died whilst he was a child. He's now 35 and a qualified solicitor and still can't persuade them to update their will. 

My mother's will didn't mention who she wanted to bring us up, despite what she told us. The best part of 50 years later it proved adequate, even if the executors were somewhat elderly. But then intestacy would have had the same result.   

boingy

RAS said:

My mother's will didn't mention who she wanted to bring us up, despite what she told us. The best part of 50 years later it proved adequate, even if the executors were somewhat elderly. 

Did you still need someone to bring you up by then or were you capable of tying your shoes and getting yourself to school on your own? 

Spendless

Keep_pedalling said:

Spendless said:

boingy said:

As well as thinking it's unlucky there are loads of other reasons people don't make a will.

The obvious one is laziness/prevarication here are others I've come across recently amongst family and friends (wills are a hot topic due to several family deaths in recent months!)

Not wanting to think about dying.

Not wanting to discuss money and property with a stranger (this is a surprisingly popular one, especially amongst the older folks).

Not wanting to upset anyone by favouring someone else. 

Not wanting to deal with a solicitor.

Just not caring what happens to the money!

The latter is my favourite. Our exhibit is in her 50's. Single, no kids, not close to her family. She just shrugs and says the government can have it all. And that's her right, I think. Who are we to tell her any different?

And then there is our distant uncle who always refused to make a will but when he died it turned out he had one. He just didn't want to discuss it with anyone! 

Actually I like his style but how did anyone think to look to see if there was one after he died.?


Our solicitor told us we needed to think of our will as a living one and he expected to see us back to update it every 4 years or so. Now that might be due to the life stage we're at, one adult child about to marry next month and the other about to start degree.

To go somewhat off topic are you aware of the gift in consideration of marriage IHT exemption?

https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm14191

I wasn't but since we have paid for certain wedding expenses have a younger child that is going to do her degree and the halls are over £3k more than her whole student loan and I lose my job later this month (won't make a difference to her loan already checked) it's not going to be relevant to us as there's no money to spare  but thank you for the info.  Our estate won't fall into IHT anyway. My parents possibly will but aren't in a position to be gifting a sizeable sum either. 

Spendless

RAS said:

Spendless said:

He then mentioned his own parents will still mentions who they would wish to fetch him up should they have died whilst he was a child. He's now 35 and a qualified solicitor and still can't persuade them to update their will. 

My mother's will didn't mention who she wanted to bring us up, despite what she told us. The best part of 50 years later it proved adequate, even if the executors were somewhat elderly. But then intestacy would have had the same result.   

Now this is why I'm glad my kids are adults and I haven't needed to put anything in about it. There's only one relative in a position to stand in if me and DH were gone and if I ever put it in, it wouldn't matter if my kids were 62, if said relative was  still alive then  they'd see it as their right to interfere.

We have an expression of wishes over what happens to the dog in the will for similar reasons, putting the decision about where he goes to a different family member.

eastcorkram

Spendless said:

boingy said:

As well as thinking it's unlucky there are loads of other reasons people don't make a will.

The obvious one is laziness/prevarication here are others I've come across recently amongst family and friends (wills are a hot topic due to several family deaths in recent months!)

Not wanting to think about dying.

Not wanting to discuss money and property with a stranger (this is a surprisingly popular one, especially amongst the older folks).

Not wanting to upset anyone by favouring someone else. 

Not wanting to deal with a solicitor.

Just not caring what happens to the money!

The latter is my favourite. Our exhibit is in her 50's. Single, no kids, not close to her family. She just shrugs and says the government can have it all. And that's her right, I think. Who are we to tell her any different?

And then there is our distant uncle who always refused to make a will but when he died it turned out he had one. He just didn't want to discuss it with anyone! 

Actually I like his style but how did anyone think to look to see if there was one after he died.?


Our solicitor told us we needed to think of our will as a living one and he expected to see us back to update it every 4 years or so. Now that might be due to the life stage we're at, one adult child about to marry next month and the other about to start degree.

He then mentioned his own parents will still mentions who they would wish to fetch him up should they have died whilst he was a child. He's now 35 and a qualified solicitor and still can't persuade them to update their will. 

How does it work, if you have one? I currently don't have a will. If I do one, I presume I have to leave a copy of it with a solicitor? Presume also there's a charge for that? 
How does the solicitor know if I pass away? I certainly won't be able to tell them.

Newly_retired

Solicitors do not normally charge to store a will if they have made it. You need to inform your executor where your will is kept or stored. I hope you will have asked your executor if they are willing to be one?

eastcorkram

Newly_retired said:

Solicitors do not normally charge to store a will if they have made it. You need to inform your executor where your will is kept or stored. I hope you will have asked your executor if they are willing to be one?

I need to do some homework! Didn't even know about the executor bit. That though, is also going to have to be someone who would know I had died. I'll be 64 this year, and I honestly don't know who could be the executor. I'm , let's say, reclusive!
I'll do some research at the weekend.