Will

Wherehasmymoneygone

Hope this is the right place....

I saw an advert in the paper recently asking 'Have you made your will' and I thought... No, I havent.

Do I NEED to make one?

If so do I NEED a solicitor etc

I havent done it as I know little about it and it seems costly but I dont want to leave it until its too late....

Primrose

Everybody should make a Will. Do you want to be buried or cremated? Do you have a mortgage? Do you have a Wife or children? Do you have savings? Do not assume that in the event of your death your possessions will necessarily go to those you would like to receive them as there are strict rules about intestacy. You can make a Will using a pre-printed Stationer's Will Form, but unless you are 100% sure that you your wishes are expressed in a legally watertight and correct manner it is best to use a solicitor. Ring around some local ones and check how much they charge. It's worth paying a little money to ensure that your affairs are properly in order.

takoo

Hi

Too late...in the eyes of the beholder - you could go at any time.

Get cracking. Points to consider:

• get a book from the library and read about points/ checklists etc
• a will ensures that your spouse and children are cared for in the way you want
• if you get it wrong they could seek a court variation but that is unlikely if you talk to your spouse (at least)
• think about gifts in the will - relatives, godchildren, friends, charities, etc
• shop around for a solicitor to advise you and prepare
• you and your spouse can make "mirror" wills at the same time - to reflect your mutual concerns for each other (it should not add much to the price the solicitor).

If you die without relatives and make no will your estate passes to the state under the rules of escheat (?)

Be wise

Takoo

buglawton

Now, which dogs' home...

Wherehasmymoneygone

I will start looking into this today.

Will I have to do a new will every time my circumstances change?

I am 25 and married. We have a house. No children but plan to start a family later this year.... I dont really want to do a will now and then do another once the child is born then when the next child is, then when we sell the house were in now.... it sounds like it could end up being expensive and lots of will writing....

My husband wants to be burried and I want to be cremated and so it would be good to have points like that in....

Slightly off topic but has anyone pre paid for their funeral? I have heard you can and was thinking of it.... I would hate for my children or family to have to fork out to cremate me.....I have life insurance and a house which would of course provide money but not at the point its needed, quite soon after my death to do the funeral but the only thing that worrys me is if I paid for it the company could go bust before I die or something like that.....

margaretclare

No, you haven't got to do a new will every time a new child is born. The only thing you'd have to do is to do a new will if you divorced and remarried <VBG>

You can include wishes for your funeral if you both have strong views on the subject.

Life insurance will very often pay the funeral costs out of the proceeds of the policy. The funeral director just sends the bill to the insurance company and lets them deal with it.

I'm a good bit nearer that 'final goodbye' than you are but I haven't pre-paid for my funeral. Hopefully it will all be covered by my savings.

HTH

Wherehasmymoneygone

It does, thanks.

I thought I would be able to request who would look after my children shoudl we die but dont know at present as I dont have any hence the changing question!

Primrose

Just a point regarding your life insurance policy. Is it written "In Trust"? this means that rather than forming part of your estate and having to wait until Probate of your Will is granted before the insurance company will pay out, it can be paid out straight away if you have a named beneficiary. It's worth checking this with your insurance company because often it's possible to set this up after taking the policy out, simply by signing a simple document.