When I go

RAS

missile said:

RAS said:

I'd suggest keeping the will with the HMCTS scheme for a one off payment given how difficult people find tracking down legal firms who've closed and even worse will-writers who've gone out of business.

I google HMCTS scheme:
The HMCTS Membership Scheme is a membership scheme that permits enhanced access through security in HMCTS buildings for registered holders with the appropriate scheme ID. The scheme is run by HM Courts and Tribunal Service (HMCTS) and the Bar Council. The scheme is intended to reduce the time barristers and other professional court users spend passing through security at courts. To join the scheme, you can visit the CLSA website and register as an individual member or a firm member

Please be advised; my will is on the National Wills Register.

Good. 

Do your executors get on?

Do you have a large NS&I holding or stocks and shares?

If the answer is yes to the first and no to the second, it's quite reasonable for your executors to obtain probate within 6 months. If when you die, you've been in receipt of any means-tested benefits (even if you don't currently), they'd be wise to delay full distribution a little while in case the DWP wakes up after 9 months. 

Apart from one case where solicitors seem to have been delaying stuff, the slow cases recorded here usually involve family members living in the house and refusing to budge, warring executors where one goes passive aggressive and refuses to progress probate or distribution, warring beneficiaries, foreign assets or small companies. And the odd case when beneficiaries decide to refuse to accept their inheritance because of DWP rules or they just enjoy annoying the executor. 

Keep_pedalling

missile said:

RAS said:

missile said:

RAS said:

Are you single, widowed or divorced, as the sums are different?

I am a Widower

So unless your spouse left money to other people than you, you have their spousal non residential allowance and if they were on the deeds of this or a previous house their residential allowance.

So potentially an IHT allowance of £1m if you leave your wealth to your children or grandchildren, which is probably ample even if the house values rockets.

poseidon's explained why this sort of trust complicates things. Add to that the fact that there probably will be no IHT to pay and if your estate is less than £650k your executors don't even need to do an IHT return. 

Just let your executors get on with the job. Have little electronic and paper files (When I die) which contains copies of all your account details including utilities, banking, savings and media. Elsewhere make sure they know how to find and access that, and know your preferred funeral arrangements and where your will is kept. Edit out old stuff at least once a year.

I'd suggest keeping the will with the HMCTS scheme for a one off payment given how difficult people find tracking down legal firms who've closed and even worse will-writers who've gone out of business.

Many thanks for your comments.

I was aware that it is unlikely that my kids would be liable for IHT.
I had read on a.n.other site several people with delays of up to 9 years for probate and recommending a trust to avoid this. I guess they have complications e.g. a poorly drafted will, squabbles over inheritance or whatever.

I have a RED file with details of my finances and original will. My beneficiaries and solicitor have copies. 
So I think I am good to go(?) but hopefully not soon.

In 99.99999% of cases probate won’t take 9 years. It sounds like like your estate is well under £650k so if it does not go over that your estate will be very simple, no IHT return will be required and as long as you don’t appoint solicitors as executors your sons should be able to obtain probate within a few months at most. 

As others have said trusts complicate things and will only increase the time it takes to wind up your estate and could have negative tax consequences. 

Flugelhorn

RAS said:

missile said:

RAS said:

I'd suggest keeping the will with the HMCTS scheme for a one off payment given how difficult people find tracking down legal firms who've closed and even worse will-writers who've gone out of business.

I google HMCTS scheme:
The HMCTS Membership Scheme is a membership scheme that permits enhanced access through security in HMCTS buildings for registered holders with the appropriate scheme ID. The scheme is run by HM Courts and Tribunal Service (HMCTS) and the Bar Council. The scheme is intended to reduce the time barristers and other professional court users spend passing through security at courts. To join the scheme, you can visit the CLSA website and register as an individual member or a firm member

Please be advised; my will is on the National Wills Register.

Good. 

Do your executors get on?

Do you have a large NS&I holding or stocks and shares?

If the answer is yes to the first and no to the second, it's quite reasonable for your executors to obtain probate within 6 months. If when you die, you've been in receipt of any means-tested benefits (even if you don't currently), they'd be wise to delay full distribution a little while in case the DWP wakes up after 9 months. 

Apart from one case where solicitors seem to have been delaying stuff, the slow cases recorded here usually involve family members living in the house and refusing to budge, warring executors where one goes passive aggressive and refuses to progress probate or distribution, warring beneficiaries, foreign assets or small companies. And the odd case when beneficiaries decide to refuse to accept their inheritance because of DWP rules or they just enjoy annoying the executor. 

what is the significance of a large NS&I holding? (just curious)

Keep_pedalling

As an aside have you put lasting powers of attorney in place. Not having them (especially for finance) will make life difficult for your sons should you ever lose mental capacity through accident or illness. 

poppystar

Flugelhorn said:

RAS said:

missile said:

RAS said:

I'd suggest keeping the will with the HMCTS scheme for a one off payment given how difficult people find tracking down legal firms who've closed and even worse will-writers who've gone out of business.

I google HMCTS scheme:
The HMCTS Membership Scheme is a membership scheme that permits enhanced access through security in HMCTS buildings for registered holders with the appropriate scheme ID. The scheme is run by HM Courts and Tribunal Service (HMCTS) and the Bar Council. The scheme is intended to reduce the time barristers and other professional court users spend passing through security at courts. To join the scheme, you can visit the CLSA website and register as an individual member or a firm member

Please be advised; my will is on the National Wills Register.

Good. 

Do your executors get on?

Do you have a large NS&I holding or stocks and shares?

If the answer is yes to the first and no to the second, it's quite reasonable for your executors to obtain probate within 6 months. If when you die, you've been in receipt of any means-tested benefits (even if you don't currently), they'd be wise to delay full distribution a little while in case the DWP wakes up after 9 months. 

Apart from one case where solicitors seem to have been delaying stuff, the slow cases recorded here usually involve family members living in the house and refusing to budge, warring executors where one goes passive aggressive and refuses to progress probate or distribution, warring beneficiaries, foreign assets or small companies. And the odd case when beneficiaries decide to refuse to accept their inheritance because of DWP rules or they just enjoy annoying the executor. 

what is the significance of a large NS&I holding? (just curious)

Other banks and building societies are more likely to release large amounts of funds without probate - so possibly saving executors having to obtain it. NS&I pretty much always insist on probate.