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    • jackieblack
    • By jackieblack 11th Aug 18, 9:15 AM
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    jackieblack
    Do I need a new will?
    • #1
    • 11th Aug 18, 9:15 AM
    Do I need a new will? 11th Aug 18 at 9:15 AM
    I've always been a believer in having a will, and have made several wills in the past, reviewing and amending as circumstances changed.
    However, since I am now divorced, my only child is an adult and my estate nowhere near the inheritance tax threshold, is there any point in making a new will now?
    My previous will (made after separating from my ex husband but before the divorce was final) leaves everything to my daughter, and if that fails, to my parents, which is AIUI what would happen if I died intestate.
    Obviously, if circumstances change again (eg grandchildren, winning the lottery) I can make a new will in the future, but is it necessary just at the moment?
    Thanks
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter,
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Page 2
    • jackieblack
    • By jackieblack 11th Aug 18, 6:04 PM
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    jackieblack
    AIUI, if a minor gets an inheritance, they can access it at 18 but if the will says that a beneficiary has to reach a certain age before they inherit, then they don't actually inherit anything until then so can't make a claim at 18.

    Happy to be corrected if that's not so.
    Originally posted by Mojisola
    This is also my understanding.
    Also happy to be corrected if wrong
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter,
    south facing (-5 deg), 30 degree pitch, no shading

    Quidquid Latine dictum sit altum videtur
    (Revera linguam latinam vix cognovi )
    • Yorkshireman99
    • By Yorkshireman99 11th Aug 18, 6:18 PM
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    Yorkshireman99
    This is also my understanding.
    Also happy to be corrected if wrong
    Originally posted by jackieblack
    Restrictions in a will purporting to limit inheritance beyond age 18 are not valid. The inheritor can claim the funds at 18.
    • jackieblack
    • By jackieblack 11th Aug 18, 6:26 PM
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    • 11,540 Thanks
    jackieblack
    Restrictions in a will purporting to limit inheritance beyond age 18 are not valid. The inheritor can claim the funds at 18.
    Originally posted by Yorkshireman99
    Yes, I understand that, if they have already inherited.
    That's not the case in my parents' wills.
    In this case my nephews would only inherit if both a) my brother is already deceased and b) they have reached 21 at the time the second of my two parents dies.
    It's not that it says they would inherit but can't access the money until they're 21 (which I know isn't valid).
    If they haven't reached 21 at the time the second of my two parents dies the whole estate would pass to me (and I would then ensure they get my brother's share)
    Last edited by jackieblack; 11-08-2018 at 6:34 PM.
    2.22kWp Solar PV system installed Oct 2010, Fronius IG20 Inverter,
    south facing (-5 deg), 30 degree pitch, no shading

    Quidquid Latine dictum sit altum videtur
    (Revera linguam latinam vix cognovi )
    • Yorkshireman99
    • By Yorkshireman99 11th Aug 18, 7:44 PM
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    Yorkshireman99
    Yes, I understand that, if they have already inherited.
    That's not the case in my parents' wills.
    In this case my nephews would only inherit if both a) my brother is already deceased and b) they have reached 21 at the time the second of my two parents dies.
    It's not that it says they would inherit but can't access the money until they're 21 (which I know isn't valid).
    If they haven't reached 21 at the time the second of my two parents dies the whole estate would pass to me (and I would then ensure they get my brother's share)
    Originally posted by jackieblack
    Thanks for the clarification. It would be interesting to know how the court would interpret that clause. The reason for the 18 cut off is, of course, that this is the age of majority. It iis good to hear that you will be fair about honouring the intentions of the will. Shame the solicitor drew it it up in that way no doubt with good intent by the testators.
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