Have you suffered from not having a will? Tell us

zagfles wrote: »

Yes I deliberately have no will, nor has my wife, or parents. Circumstances are straightforwards and we understand the rules of intestacy. I've helped adminsiter a couple of estates with no will and they were straightforwards, if anything they were easier than if there'd been a will!

However if you do this make certain to tell people you have no will! Otherwise they'll waste time searching for it.

If you do make a will - don't make a solicitor or a bank the executor. If you do, they have a monopoly and if they're rubbish, slow, or expensive, your beneficiaries are stuck with them. Make one of the main beneficiaries the executor(s), or a trusted friend/relative. Having asked them first of course. They can always pay for legal help if they need it, and they'll be able to shop around and get rid of any slow/expensive solicitor.

On a related point make sure you have "expression of wish" forms filled out for any pensions you have, will or no will. Pensions do not (generally) get included in wills so you can't usually leave pensions in a will.

I would disagree with the advice "don't make a solicitor or a bank the executor. If you do, they have a monopoly and if they're rubbish, slow, or expensive", as having an expert on hand can be helpful if you run into issues. I can't speak for banks, as I have never had dealings with banks with regard to executing the wishes of any of my deceased relatives (I must note here that I am of an age where there have been a few over the past couple of decades years).

As I used to work in a solicitors office, for a time in the Probate Department (typing up Wills and preparing estate accounts rather than on the legal side) I became aware of how useful it can be if you have solicitor or probate executive as a co-executor (and also of the problems when people have no will).

I have been named executor on three Wills which have had a solicitor as a co-executor / trustee and in each case I have done 97% of the work and just left it to them to sort out any inheritance tax and check my work (especially the estate accounts). It has never been an issue (ie them letting me do a lot of the work). It saves money and gives me the peace of mind that everything has been done correctly. My own Will names a legal firm (or its successors) as co-executor / trustee as my husband isn't sure that he will be able to cope with dealing with my Estate if I die before him.

In any event, if Trusts need to be set up for minors or other dependents, you'll need to appoint someone who knows what they are doing, so if there's a professional on hand to call upon, it saves time. Not everyone is mentally up to dealing with a loved one's estate when they deal with it themselves, so again, having a professional on hand, even if they aren't needed, is good backup when you can't cope.

The other advantage is that with a solicitor (or indeed a bank) is that if the named person is no longer with the firm, the addition of words along the lines of :

"2. (a) I APPOINT my Wife [NAME], my daughter [NAME], both of 1 Any Street, Anywhere, Britain, the Partners at the date of my death in the firm of RIPOFF AND SCARPER of 5 High Road, Anywhere Solicitors or the firm or incorporated practice which at that date has succeeded to and carries on its practice to be the executors and trustees of this Will and I EXPRESS THE WISH that one or two only of the partners shall prove my Will.

In (a) above "firm" incudes an incorporated practice recognised by the Law Society and "partners" includes Solicitors who are directors or members of or beneficial owners of shares In such a practice

The expression "my Trustees" whenever used in this Will shall mean my executors and the trustee or trustees for the time being whether original or substituted"

will save hunting round for a firm of solicitors when you aren't necessarily in the best position to want to.