Will writing

[norseman]

Can I ask for folks experiences of having their last will & testament written by services other than by a solicitor?

I feel the need to change/update my will & recall the last time this was done many years ago it was a very expensive exercise, so Lord alone knows what a solicitor will charge now.

Appreciate your time.

 

[pete01]

Martin Lewis is doing a full show on it next Tuesday night, it will be worth a watch I think

 

[Koolpc]

I had mine done by the Kennel Club. Quite reasonable.

 

[Notch7]

Can I ask for folks experiences of having their last will & testament written by services other than by a solicitor?

I feel the need to change/update my will & recall the last time this was done many years ago it was a very expensive exercise, so Lord alone knows what a solicitor will charge now.

Appreciate your time.

If you are above the inheritance tax threshold and need to be looking at trusts then its best to go to a specialist, sometimes a financial advisor might be best route

if you are below the inheritance tax threshold and have simple requirements in regards to beneficiaries then you might just get a kit and do it yourself

be very careful about appointing a solicitor as executor............they will charge £10k+ for their services and do very little for it, best to make a beneficiary an executor

 

[motorbiking]

Its fairly easy to write yourself subject to the above.

Try not to make it too complex, but rather update it frequently. If you intend to disinherit someone who might expect to benefit, then you should acknowledge them in your will. Also try not to leave fixed amounts as if you say...

to my Son's I leave 40% each and to my favourite nieces £2000 each. the fixed amount takes priority over the %age.

I think I posted a template on here before.

 

[Murdochcat]

I guess you get what you pay for but there seem to be more people who offer these services these days

My advice is NEVER appoint a solicitor as your executor ...........

And compile a "death" file with a document from every policy or statement of account so your loved ones have something to work from AND make sure they also know your mobile phone pin code AND computer logins

 

[MNW67]

Also try not to leave fixed amounts as if you say...

to my Son's I leave 40% each and to my favourite nieces £2000 each. the fixed amount takes priority over the %age.

Isn't that exactly what many people want to happen when leaving small pecuniary legacies?

 

[Alec_t]

Some charities offer a free will-writing service. Naturally they hope to be a beneficiary, but that's not compulsory.

 

[motorbiking]

Isn't that exactly what many people want to happen with small pecuniary legacies?

when you write your Will you might assume your estate to be worth say £80k

So the two Son's get 40% of the £80k. When you die, known or unknown to you, your net estate is worth 8k, 4K gets taken by the nieces and the Son's get £1,600

You can write 1% or £2000 whichever is the lesser amount.

 

[MNW67]

when you write your Will you might assume your estate to be worth say £80k

So the two Son's get 40% of the £80k. When you die, known or unknown to you, your net estate is worth 8k, 4K gets taken by the nieces and the Son's get £1,600

You can write 1% or £2000 whichever is the lesser amount.

The benefits of keeping your will up to date!

 

[motorbiking]

Or just write it better to start with. Sadly a lot of people start to lose the faculties at the same rapid pace that their assets are dwindled due to care costs.

 

[Fred Blogs]

Done mine and the wife's. We have two kids now grown up. Our biggest asset, our house, we already signed over to them. Only down side to that is that I cannot take advantage of the meagre equity release that companies offer. Yeah yeah I know all about the dangers of signing over property to children but we did it via a solicitor and there are built in safeguards. Nothing in my phone, as I do not live in my phone like some, that is of any interest to them nor on my computers. If I peg it first my wife gets everything that is left after I'm planted. If she goes first same applies to me. When we are both gone the kids what ever is left to share between them 50/50. One thing is for sure I will not be thinking about it when I'm gone.

 

[ReganAndCarter]

I had mine done by the Kennel Club. Quite reasonable.

Woof!

 

[ReganAndCarter]

We DIYed my mother's. Not very difficult as long as you're careful. Plenty of advice online. Typed it out, mother signed it and neighbours witnessed it. Obviously if your situation isn't reasonably straightforward you may want professional advice, especially with inheritance tax planning. Have found that a lot of what solicitors do is quite easy to DIY if you have time. My cousin's estate was an intestacy with complications but I acted as administrator (executor) without a solicitor involved at all. Must say I couldn't have done it without the help of the Land Registry and HMRC inheritance tax helplines.

 

[MNW67]

You can write 1% or £2000 whichever is the lesser amount.

Would that be included as a general legacy or are we talking about a gift from the residuary estate?