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  • FIRST POST
    • Gazz_
    • By Gazz_ 5th Mar 18, 10:14 PM
    • 2Posts
    • 0Thanks
    Gazz_
    Setting a date for estate to be transferred?
    • #1
    • 5th Mar 18, 10:14 PM
    Setting a date for estate to be transferred? 5th Mar 18 at 10:14 PM
    A number of years ago when I bought my first property, I created a will at the same time with the same lawyer who dealt with my mortgage.

    Having no children at that time I divided up my estate, possessions and monies amongst friends and family; but now I would like everything to be handed down to my child eventually.

    Since, this will would be pretty fairly straightforward, I have considered using a template instead of going back to the lawyer.

    However, I am unsure of how to word the will in such a way that would postpone the transfer of my estate; from the executor to my child on a certain date (when she is 25 years old for example instead of 18 years old) - if this circumstance should arise.

    Another side question if anyone knows the answer:
    When I had looked at template wills online, I never noticed an option for my child to acquire my pension on my death. Would this come under 'gifted money' or would that be seen as being part of the 'estate'?

    Thank you
Page 1
    • Keep pedalling
    • By Keep pedalling 5th Mar 18, 10:17 PM
    • 5,091 Posts
    • 5,670 Thanks
    Keep pedalling
    • #2
    • 5th Mar 18, 10:17 PM
    • #2
    • 5th Mar 18, 10:17 PM
    Do not skimp on this, get it done properly.

    Clauses setting ages above 18 (16 in Scotland) are not actually enforceable.
    • Savvy_Sue
    • By Savvy_Sue 5th Mar 18, 10:26 PM
    • 38,612 Posts
    • 35,334 Thanks
    Savvy_Sue
    • #3
    • 5th Mar 18, 10:26 PM
    • #3
    • 5th Mar 18, 10:26 PM
    Pensions are usually written 'in trust' to a beneficiary / beneficiaries of your choice and fall outside the estate, so would not normally be mentioned in the will.

    Other than that, check that you update your pension beneficiaries when necessary (one DS has just nominated his g/f, so if that relationship ends he'll need to think about that!) and take Keep pedalling's advice and pay for proper advice.
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    • Yorkshireman99
    • By Yorkshireman99 5th Mar 18, 10:35 PM
    • 4,243 Posts
    • 3,462 Thanks
    Yorkshireman99
    • #4
    • 5th Mar 18, 10:35 PM
    • #4
    • 5th Mar 18, 10:35 PM
    A number of years ago when I bought my first property, I created a will at the same time with the same lawyer who dealt with my mortgage.

    Having no children at that time I divided up my estate, possessions and monies amongst friends and family; but now I would like everything to be handed down to my child eventually.

    Since, this will would be pretty fairly straightforward, I have considered using a template instead of going back to the lawyer.

    However, I am unsure of how to word the will in such a way that would postpone the transfer of my estate; from the executor to my child on a certain date (when she is 25 years old for example instead of 18 years old) - if this circumstance should arise.

    Another side question if anyone knows the answer:
    When I had looked at template wills online, I never noticed an option for my child to acquire my pension on my death. Would this come under 'gifted money' or would that be seen as being part of the 'estate'?

    Thank you
    Originally posted by Gazz_
    Do the job properly using a solictor not a will writer. Under no circumstances try to DIY it.
    • Tom99
    • By Tom99 6th Mar 18, 3:32 AM
    • 2,229 Posts
    • 1,515 Thanks
    Tom99
    • #5
    • 6th Mar 18, 3:32 AM
    • #5
    • 6th Mar 18, 3:32 AM
    Do the job properly using a solictor not a will writer. Under no circumstances try to DIY it.
    Originally posted by Yorkshireman99
    It sounds like your child is under 18 so I definitely agree with above.
    • Sea Shell
    • By Sea Shell 6th Mar 18, 4:20 AM
    • 779 Posts
    • 1,055 Thanks
    Sea Shell
    • #6
    • 6th Mar 18, 4:20 AM
    • #6
    • 6th Mar 18, 4:20 AM
    If the will you currently hold no longer meets your wishes, and leaves your children exposed, and intestacy rules will do in the interim....Rip it up. And make sure those who know of this will, know it's been destroyed.

    In a lot of circumstances, no will is better than a bad will!!! (that phrase sounds very familiar!!)
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
    • nom de plume
    • By nom de plume 6th Mar 18, 9:51 AM
    • 695 Posts
    • 646 Thanks
    nom de plume
    • #7
    • 6th Mar 18, 9:51 AM
    • #7
    • 6th Mar 18, 9:51 AM
    If the will you currently hold no longer meets your wishes, and leaves your children exposed, and intestacy rules will do in the interim....Rip it up. And make sure those who know of this will, know it's been destroyed.

    In a lot of circumstances, no will is better than a bad will!!! (that phrase sounds very familiar!!)
    Originally posted by Sea Shell
    Would it not be better if the Will was clearly cancelled but kept to avoid any doubt. I'm pretty sure I've read of cases where an office copy of a Will has been eventually accepted where the original cannot be found.

    I'm thinking "I revoke this Will" signed and dated in thick black marker should do the trick.
    • Yorkshireman99
    • By Yorkshireman99 6th Mar 18, 12:36 PM
    • 4,243 Posts
    • 3,462 Thanks
    Yorkshireman99
    • #8
    • 6th Mar 18, 12:36 PM
    • #8
    • 6th Mar 18, 12:36 PM
    Would it not be better if the Will was clearly cancelled but kept to avoid any doubt. I'm pretty sure I've read of cases where an office copy of a Will has been eventually accepted where the original cannot be found.

    I'm thinking "I revoke this Will" signed and dated in thick black marker should do the trick.
    Originally posted by nom de plume
    It would need to be wintenessed in the same way as the will to be sure.
    • Sea Shell
    • By Sea Shell 7th Mar 18, 6:34 AM
    • 779 Posts
    • 1,055 Thanks
    Sea Shell
    • #9
    • 7th Mar 18, 6:34 AM
    • #9
    • 7th Mar 18, 6:34 AM
    It would need to be wintenessed in the same way as the will to be sure.
    Originally posted by Yorkshireman99
    Ah, yes, that would make sense. Good idea, then there can be no "dispute" as to its validity.
    " That pound I saved yesterday, is a pound I don't have to earn tomorrow "
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