Do I really need a will?

squashy

This is something I had thought i (we!)should get round to but I wasn't sure if i would be ok without?

I am married, the house is owned with joint names. We have 3 children together and he also has 2 older children to his ex.

I assume that if i go everything goes to him and vice versa, and if we both went then everything is split 5 ways between the children. Not that we have all that much of an estate, but I do have a pension with death benefits. He has life assurance.

The other issue is custody of the children, we have verbally nominated my parents but i guess these needs making official. My step kids live with their mum already.

*Louise*

Where children are concerned, you really should get a will made, even if it's just to nominate the legal guardians. (Don't know about his parents - but is there any chance they could contest against your parents having the kids if the worst chould happen?)

Better to be on the safe side.

Surfbabe

Get a will made and specify that you
a) want the estate to be split equally 5 ways of you both die together nad
b) specify legal gaurdians although our solicitir told us when we did this that the court can overturn your request if they feel it is not in the children's best interestes.

LondonDiva

Yes, yes, yes, yes and yes.

Please, please get a will as soon as humanly possible. Please also get advice from a solicitor as well.

margaretclare

Everybody should make a will. Everybody, without exception, but especially those who have family responsibilities i.e. children.

mymatebob

Unless you are immortal - make a will

Willman_Rodders

Hi Squashy,

Here's an example for you. Your spouse has two children from his/her first marriage. Three children are from your present marriage. Your spouse is older than you. Yesterday both you and your spouse died in an accident; both died together.

Rules of intestacy state that where two people die together [or it is not possible with certainty to determine the last to die] then the older person is deemed to have died first.

So, in this example under the rules of intestacy (and disregarding any statutory limits that create statutory trusts - which can lead to hardship) all your spouse's estate will be passed to you - the 'surviving' spouse.

Then your position is now considered. As your spouse has already died, so you are now deemed a widow and so your estate is passed to your natural children - and equally if more than one. It is therefore shared between your [natural] three children; your stepchildren (i.e your spouse's children from his/her first marriage) are disregarded and inherit nothing.

As a parent your spouse might want to include trusts within his/her will to protect his/her own children's share, they might not. He/She might need to make provision for his/her former wife/husband. There are yet other reasons why you should both make a will.

The message is simple: Both of you should make a will. In view of your background use a professional will writer.


Rod

squashy

Willman_Rodders wrote: »

Hi Squashy,

Here's an example for you. Your spouse has two children from his/her first marriage. Three children are from your present marriage. Your spouse is older than you. Yesterday both you and your spouse died in an accident; both died together.

Rules of intestacy state that where two people die together [or it is not possible with certainty to determine the last to die] then the older person is deemed to have died first.

So, in this example under the rules of intestacy (and disregarding any statutory limits that create statutory trusts - which can lead to hardship) all your spouse's estate will be passed to you - the 'surviving' spouse.

Then your position is now considered. As your spouse has already died, so you are now deemed a widow and so your estate is passed to your natural children - and equally if more than one. It is therefore shared between your [natural] three children; your stepchildren (i.e your spouse's children from his/her first marriage) are disregarded and inherit nothing.

As a parent your spouse might want to include trusts within his/her will to protect his/her own children's share, they might not. He/She might need to make provision for his/her former wife/husband. There are yet other reasons why you should both make a will.

The message is simple: Both of you should make a will. In view of your background use a professional will writer.


Rod

That makes for verrrrry interesting reading. I'll get onto it. Thankyou!

shelly

I saw the thread title and was going to say......Yes you need one, they are fantastic!!!

I thought you were asking Do I really need a wii?

Sorry, I'm no help at all :rolleyes:

fay144

Another example:
If you died, your husband would inherit everything. If he re-married then died without making a will, his new partner would inherit everything. She could then leave it all to her own kids, and yours would get nothing.

virgin_moneysaver

fay144 wrote: »

Another example:
If you died, your husband would inherit everything. If he re-married then died without making a will, his new partner would inherit everything. She could then leave it all to her own kids, and yours would get nothing.

true - happened to friend of family - her parents had paid off mortgage, a few years later she died, he later remarried, he died, new wife got the lot & left her husbands family home to her children from 1st marriage