Could we avoid probate completely?

Shylock_249

bompey said:

This won’t answer your question but have you discussed the inheritance with your wife’s sisters? You are likely giving them IHT issues with their estates and a bit of planning, such as giving directly to the nephews, could reduce the bill, or at least mean IHT skips a generation.

Nice as they are, it would be difficult trying to discuss anything technical with either of them.  I asked the eldest if she would be prepared to be named as an Executor.  She just said what is that?  The other one thinks Lenin was in the Beatles and Trotsky is a touch of the runs.  Neither should have IHT problems in their own rights;  they almost live on a hand to mouth basis.

I wouldn't be prepared to give the nephews lump sums whilst either of us is alive.  Currently I'm looking after the wife (Cook, Shopper, Cleaner, Financial Advisor, Sky+ Remote Controller, Driver etc) and if I pass away first the wife would have to go into a nursing home and she might need every penny.

Thanks

Shylock_249

Savvy_Sue said:

Shylock_249 said:

We don't regret NOT having children but a 40 year old competent son/daughter would come in handy!

But you may well have three competent nephews! 

Hey, you don't know them!  They are well behaved.  Their father is a wimp, he's afraid to fly, so the wife's sister has never been on a holiday outside the country.  He's afraid to drive so he rides a bicycle to work in a concret works making concrete posts etc.  Two of the boys have no ambition whatsoever, so guess what work they did when they left school, yep they went to work at the concrete works with their father!

The youngest, a nice young man is a teachers' assistant, ie go to school aged 5 and still be there when he's 65.  They all live about 27 miles away. My siblings live more than 250 miles away.

Thanks 😊