Beneficiary

20122013

Due to older generation moving on, I am now thinking about my situation and would be interested to know what will  happen if a will only have the name of the Beneficiary and not their address and they do not live in the UK?  They had previously declined to share their address (as I wanted send them a parcel and they were worried about custom excise /tax). I would prefer not to tell them that I need their address as I want to add them to my Will. Is there a work around?   (I sense that they will not be staying more than 5 years in one country)

For my SW pension, I have added a different person as Beneficiary.  SW only require the full name and address (as this person is abroad, it seems strange that no date of birth or any other details are required. How will they find said person? as their name is common.  

Do people allocate whole asset to each individual eg:
Pension to person 1

Home / Property to Person 2

Home Content (object non living)) to Person 3

ISA to Person 4

p00hsticks

You don't necessarily need to give someone's address in a will, but you do need to make sure that you give enough information for them to be uniquely identified. So far example, rather than just say ' I leave my assets to John Smith' you'd say something like ' I leave my assets to my nephew John Smith....'  , or ' I leave my assets to John Smith who previously resided at 22 Acacia Avenue, Chichester....' 

Voyager2002

It is entirely up to the person making the will how they allocate their assets. There is nothing unusual about splitting the value of a particular asset three ways, or whatever.

Following a death, the person who is named as the executor is responsible for finding the beneficiaries and distributing the money and other assets. If there is no address they use whatever clues are provided in the will, or in a document that could be appended to the will. 

Emmia

20122013 said:

Due to older generation moving on, I am now thinking about my situation and would be interested to know what will  happen if a will only have the name of the Beneficiary and not their address and they do not live in the UK?  They had previously declined to share their address (as I wanted send them a parcel and they were worried about custom excise /tax). I would prefer not to tell them that I need their address as I want to add them to my Will. Is there a work around?   (I sense that they will not be staying more than 5 years in one country)

For my SW pension, I have added a different person as Beneficiary.  SW only require the full name and address (as this person is abroad, it seems strange that no date of birth or any other details are required. How will they find said person? as their name is common.  

Do people allocate whole asset to each individual eg:
Pension to person 1

Home / Property to Person 2

Home Content (object non living)) to Person 3

ISA to Person 4

Do they have a significant birthday coming up? could you ask for their address so you could send a card (not a gift) or could you say that you'd like to be able to send them a Christmas card?

I do find a reluctance to share their address with someone that presumably they're reasonably close to a bit odd though.

On the second part of your questions.

Usually you wouldn't necessarily leave specific assets to people - a named property could be sold and another purchased, leaving the beneficiary of the first property out of luck if the will is not updated. If you had a Halifax ISA specified in the will for a named person but you later switched it to Lloyds (better rate?) then the same situation would arise.

It's probably better to specify percentages of your overall estate per person - these might broadly equate to the value of your property/ISA etc., but it's not tied to those things.