Wills help please

Abbafan1972

in regards to assets there would be the house - hubby has a car. Anything else I need to mention?

The children are 21 & 24 (older one has some special needs though).

Both sets of our parents are still living in their late 70’s. I am the sole beneficiary of my parents estate being the only child. my daughters are the beneficiaries if I pass before my parents do. Hubby is/was the executor of his parents will but they had a big fall out years ago, have recently kind of reconciled but don’t know if his parents changed their will and he said he’s not asking. He has a younger brother that he doesn’t speak to. All that is another story though.

gplion55

https://forums.moneysavingexpert.com/discussion/comment/81892249#Comment_81892249

It's not "Bad Advice', just advice on how to get started with planning your own circumstances.

A solicitor is always recommended once the time is right and you are ready.

Emmia

https://forums.moneysavingexpert.com/discussion/comment/81894705#Comment_81894705

We will have to respectfully disagree.

Emmia

Do they need to absolutely mirror each other?

My husband and I did wills during the pandemic, my second (the first was invalidated by marriage) and his first. We have no kids.

Our wills are similar, but we have different charities who will get our money as a back stop, and a slightly different list of beneficiary's.

I decided to do mine entirely separately from my husband, but doing it prompted him to do his with the same solicitors. So don't delay because of him, do yours anyway, it might prompt him to follow suit.

Abbafan1972

By “mirror each other” I meant we inherit each others estate which ever one goes first. Obviously there are lots of scenarios but when I was doing the farewill one, there were so many questions, even do we have a dog (we do) and who is going to look after him etc. it just got too much, plus all the bank accounts and things.

Emmia

https://forums.moneysavingexpert.com/discussion/comment/81894732#Comment_81894732

I think you would really benefit from going to a proper local solicitor.

My will for example doesn't list bank accounts (they can change and so you'd need to redo your will if you list particular accounts in that document), so I'm not sure why this is a requirement of Farewill?

Edit: having looked them up, I'd avoid Farewill as they're clearly at best unregulated will writers, not solicitors, their website states...

Farewill Ltd 

• Farewill is not a law firm and is not regulated by the Solicitors Regulation Authority (SRA). Our online will writing service is an online service providing legal forms and information to allow you to draft your own will. Our telephone service provides guidance, we do not provide bespoke advice, including tax advice.

The price for the service where you speak to someone over the phone is about the same as what I paid for a straightforward solicitor drafted will.

RAS

No need really to know about bank accounts, except,

It's a good idea to know the rough value, as the rules of intestacy have implications for the surviving spouse if the value of the whole estate exceeds £322k

If you are married and have a joint account, the survivor gets it all and it's not part of the estate

Sole accounts form part of the estate.

I'd add that there are special rules about someone with people with special needs? You need advice as it may or may not be relevant to your situation.