Author Topic: Have you made a Will?  (Read 4057 times)

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The Prophet

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Have you made a Will?
« on: July 23, 2011, 09:22:31 am »
Apparently two-thirds of UK adults have not made a will yet.
An investigation by the Legal Services Consumer Panel found 20% of Wills they examined were not watertight.

A valid Will  must be in writing, and written voluntary without undue pressure from anyone and it must be signed by you in the presence of two
witnesses who are not beneficiaries or married to beneficiaries.

A local solicitor can write a Will for you for around £200, although you can get a simple will done for around £70 or FREE during 'Free Wills Month' in March and October. 

However watch out that the less expensive solicitors do not try to make themselves joint executors and charge your estate a huge fee after you have died.
There is no legal requirement for a solicitor to be an executor in your will.


Albert

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Re: Have you made a Will?
« Reply #1 on: August 02, 2011, 08:21:24 am »
You can get a Will drawn up for around £70, but you would need to take a draft with you.
I agree never let the solicitor be the executor if you can help it.


The Prophet

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Re: Have you made a Will?
« Reply #2 on: October 24, 2011, 08:58:01 am »
If you are married and have not made a Will, your spouse will not inherit everything, contary to popular belief.

In England and Wales, your spouse will only receive the whole of your estate up to £450,000 free of tax (IHT). 
Above that figure, if you do not have children, half will go to your spouse and half to any surviving parents.
If there are no living parents, this half will go to your brothers and sisters or, if they have died, their children.

FirstTimeBuyerGuru

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Re: Have you made a Will?
« Reply #3 on: November 11, 2011, 05:31:21 pm »
I think it's the standard attitude of "well i'll be dead wont i, so whatever!" that comes into play when it comes to wills! It's best to think about getting a proper one done because the DIY one's can be a little dubious if any squabbling develops between family members in the event of your death.

The Prophet

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Re: Have you made a Will?
« Reply #4 on: November 12, 2011, 09:13:50 am »
There are plenty of solicitors where you can have a Will drawn up for as little as £60 incl VAT.
Most Wills will need updating around every ten years or so as your circumstances change.
Again it wont cost more than £60.
Just because YOU won't be around why make things hard for those left behind?