Cost of Will

Keep_pedalling

dont_use_vistaprint said:

Keep_pedalling said:

dont_use_vistaprint said:

Thanks all for the feedback, done a bit more research and we’ve decided to just get the pack from the post office no need for a will writer & no need for solicitor in this case as it’s very very simple.

Will to be stored with the person in a place that is known to executors, no need for paid storage.


just one question though is it possible to make duplicate copies and store with the executors as a backup ? if so, can they be photocopies or do we need to literally do multiple identical copies   by hand

So basically you will be making a will that produces the same result as intestacy.

Yes that’s correct with the additional of name the executors and speeding up the process when the unfortunate thing happens.

is this not a good idea?

Apart from having named executors, no. One of the main points of having a will is for it to cater for what if situation, such as a child pre-deceasing a parent, which is where intestacy rules are likely to lead to your estate going to someone you would not want to recieve it. In some circumstances it could have unintended IHT complications

poppystar

YoungBlueEyes said:

Intestacy is the default position for people who don't have a will. The point @Keep_pedalling is making is that you're going to a lot of trouble and creating work for yourself - and possible confusion for your heirs - just to be back in the position you would've been if you didn't have a will at all.

Have a look for the Rules of Intestacy and see if that fits your and/or your relative's requirements. 

It isn’t just the rules of intestacy but also the order of who can apply for Letters of Administration. If the person with the first call on doing that is not someone who you would trust for any reason (personality or capability) then having a Will and nominating executors is a sensible way to proceed. 

dont_use_vistaprint

poppystar said:

YoungBlueEyes said:

Intestacy is the default position for people who don't have a will. The point @Keep_pedalling is making is that you're going to a lot of trouble and creating work for yourself - and possible confusion for your heirs - just to be back in the position you would've been if you didn't have a will at all.

Have a look for the Rules of Intestacy and see if that fits your and/or your relative's requirements. 

It isn’t just the rules of intestacy but also the order of who can apply for Letters of Administration. If the person with the first call on doing that is not someone who you would trust for any reason (personality or capability) then having a Will and nominating executors is a sensible way to proceed. 

This is exactly what she was advised as well as timeframes to sell an asset that will
be incurring high costs and is the main  reason/s for needing a will to name executors and speed things up to save costs. 

Also to state specifically no funeral costs because apparently you cannot pre pay the pure cremation ?