Making a will - Married Couple with toddler

[Stuart Noble]

You're right, I have no knowledge of the problems because in the cases I have been involved with, there hasn't been any. People I've known just leave things to their next of kin. As I said, if your wishes are complicated or deviate from the norm, then it's commonsense to state things clearly in writing. The one properly drawn up will I have experience of turned out to be a dog's dinner, designed to create a smokescreen so that the solicitors who drew it up could further line their pockets.

So, how would you say a "properly" drwan up will for a family man differs from the intestacy rules, assuming he has no secret liaisons and doesn't favour one of his offspring above the other? I conclude from the hostility of your response that you are either a solicitor, or someone who has paid one rather a lot of money. My experience of all this is that there are always people in suits hovering near large sums of money and most of them are con artists.

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[graham]

Like who?

Graham

[Stuart Noble]

Like 2 out of 3 books I looked at in the reference library. Does it matter? It is fundamentally obvious that the intestacy rules are clearly defined and your will may not be, especially if you use the firm of Lincolns Inn solicitors my father-in-law did.

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[Peter Crosland]

And what do you mean by next of kin? Spouse, children, siblings, parents or some other relative. It makes agreat deal of difference not to mention the fact that it takes no account whatsoever of the simple inheritance tax complications.

Your contention that the rules that apply in the case of intestacy represent the "norm" just shows that you have no idea of what you are talking about.

The one properly drawn up will I have experience of turned out to

Obviously I have no knowledge of the detail of the case you refer to but having had experience of a number of wills the only ones that have been problematic are thopse that were of the DIY variety. I have been an executor on eight occasions. In a case I was named as executor without my knowledge or consnet I resigned the post because of the complications that I did not want to be landed with.

Because the intestacy rules distribute the estate(s) in a way that may leave the children or spouse severely disadvantaged not to mention the fact that a double or even treble amount of inheritance tax could end up being paid unnecessarily.

Neither! As it happens I recently had a new will drawn up by a local solicitor and it cost me £75 plus VAT. I could well have done it myself but I see the money as insurance that my estate won't be plundered because of littigation or the like.

A very cynical and largely incorrect assumption. A badly drawn up DIY will may very well cost far more in fees to sort out than one done correctly in the first place.

Peter Crosland

Peter Crosland

[Stuart Noble]

Mother, father, toddler. Is the OP's life complicated?

complications.

I have already suggested that couples look at discretionary trusts but, assuming you have no spouse, what can you specify in a will that is going to reduce IHT? If you owned something 7 years before you died, then it's part of your estate at death.

I want my wife to have my estate. If she's dead, I want my estate to be divided among my offspring. Isn't that the norm? If the intestacy rules don't suit your circumstances, then make a will, but don't make one that simply restates them.

An example of how this might affect the OP?

Again, an example would be helpful. My father-in-law and his "adviser" (not called an FA for nothing) worked every flanker in the book but everything got caught by the 7 year rule. If there were things relevant to a widower they overlooked, I'd be pleased to hear about them

Litigation! Your affairs must be complicated.

A cynic sees life as it is, and not how it ought to be.

Why would a will ever need to be sorted out? Only if it's challenged, and how often does that happen? You need solicitors to resolve conflicts, or protect you from potential conflicts, but personally I see no need for them. I even trust my daughter-in-law, I think. So, we have over a dozen deaths between us and should be able to contribute something constructive here. Well, it's more interesting than "which condensing boiler" threads, and there really is nothing on the tele.

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