Creating a will
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AAZ
Posts: 107 Forumite
Both me and my wife are planning a create a will just in case, we have three children under 10. Trying to look into it and it gets more complicated, is power of attorney recommended ? Do most people create trust and start estate planning ? Or is it Better to have a simple will and as we age we may look into power of attorney and estate planning.
Who do people appoint executor if they don't have close family member ?
I will get lawyer to do it properly but are they specialist lawyer and is it worth paying them or look in our local town centre and find a lawyer ?
Who do people appoint executor if they don't have close family member ?
I will get lawyer to do it properly but are they specialist lawyer and is it worth paying them or look in our local town centre and find a lawyer ?
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Comments
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The will and the PoA are for different scenarios. Both are extremely useful things to have in your bureau of admin file.2
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Your main challenge will be - who looks after the children in the scenario you both die ? The answer to that question might well be different in 10 years time compared to now.Never pay on an estimated bill1
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Robin9 said:Your main challenge will be - who looks after the children in the scenario you both die ? The answer to that question might well be different in 10 years time compared to now.0
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POAs are simple to do yourself and only cost about £85 each if you DIY. A lawyer will charge much more. You could as a start do simple mirror wills with a line about grandad looking after the kids for now l, again a lawyer will do it for free if done during a free will monthly if you add a small bequest (£75?) to a charity. Then you can relax and work out the more complex issues and get them redone in a couple of years."Never retract, never explain, never apologise; get things done and let them howl.”2
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Who do people appoint executor if they don't have close family member
People appoint a solicitor.
Or even if they appoint a family member, due to the hassle, they say said family member can then choose a solicitor to do it.1 -
cjdew said:Or even if they appoint a family member, due to the hassle, they say said family member can then choose a solicitor to do it.
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Many thanks for advice0
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