when i did mine i did it 'face to face' cost me £70 - although when i rang around the prices did change from company to company Solicitor was good - we made a list all the things i have (house/car/enondowment/insurance) and things i haven't thought of - furnishings of my house etc Solicitor also put a 'clause'(not sure of legal jargon) in that if money exceeds set amount the remainder is given to other benefactors shocked me to find out that there's more money left when i'm dead than i have alive!!!
It's a good idea to get a solicitor to do it, just to be on the safe side, especially if you think you might be liable for Inheritance Tax. There are a few fairly straightforward (and perfectly legal) wheezes that can be employed to limit, or even alleviate your liability entirely.
I did mine through my bank for free. The advisor came to my house, he didn't try to sell me any other products and it was quick - about an hour, and easy - just supply a list of your assets and it was done!
Cancer reserch will get a local solicitor to write a will for free if you are over 55. they hope you might leave them something. You can always copy the wording for future changes in your will
If you give any item on the will to some one before you die the will is then void.Also if you are sick place the house in someone elses name.If you need to change the will dont just write over the top and cross things off.You have to make sure the will is worded properly.So its best to get a solicitor to do it for you.
Little in life is free, unfortunately, and this is particularly true where banks are concerned! Slapmatt, when your bank so kindly drew up your will for you and charged you nothing, did you happen to notice whether or not they appointed themselves executor? This is a classic bank ruse as they typically charge for this service on an ad valorem basis rather than time-costed and this can be anything up to 10% of the value of the estate. Always go to a solicitor for will writing and always appoint a family member as executor unless your estate is particularly complex or your family position awkward.
Is that true about the will being invalid if something is given away? I just thought it made life difficult for the executors. What about a will drawn up and then the house robbed?
Bit confused now.
**Just wants to pass some time without any hassle**
No it is not true, it just means that the person who was going to get your gold watch or whatever it was will be a bit peed off. Also don't understand 2005's comment that you should put your house in someone else's name if you are sick. This serves no purpose at all that I can see as in order to avoid inheritance tax you would have to a) survive seven years so you can't be all that sick and b) either move out or pay a full market rent.
In 1998 my nan died and left a will it was void due to my nan giving out a watch and two other items.When my mum had a stroke she needed to go into a care home the care home costs were high and the house was to be sold to pay for this as the goverment wouldnt pay a penny so what she worked for all her life was to give it all back that made her even worse and angry.If it was in other name thay would have to pay.Also with nursing homes if you find a good one its about £700 pw or more when the money has gone you have to move into a cheaper carehome as the goverment will only pay a small amount.That is what happend to us.
You can transfer your house into someone else's name if you want to, but there is no inheritance tax advantage as the value will still be added to your estate upon death. If the transfer is solely to reduce your personal assets in order to qualify for free residential care then the transfer must take place well in advance of any care need otherwise the authorities will consider that the transfer was effected purely to render eligibility for benefits and will discount it.
Thanks Susie. I am co-executor of a will and there were some things bequeathed which we could not find so we have just glossed over them! One problem I have at the moment is that another of the co-executors has set himself up as the Main Executor! I did all the 'fun' stuff like slogging and crying whilst clearing the house (Council so we had four weeks to be out - very hard) and we signed a form to let someone else be the named person for the bank to deal with. He is now being a bit of a pratt and deciding how money out of the estate will be spent and only casually mentioning in passing! Very annoying and frustrating. For me, the sooner everything is resolved, the money dished out, the better. I just have the feeling the other executor likes 'flashing the cash' even though it is not his.
Moan over - sorry people.
**Just wants to pass some time without any hassle**
If it helps, executors are accountable and may only charge reasonable expenses... As far as the distribution of assets is concerned, only the will can determine this and if the 'main executor' is trying to vary the terms he/she can be brought to book!
Easier said than done!! This is family I am talking about and the eldest is the one being the pratt so nothing new there then. He decided as we came away from the hospital that the old headstone on the grave was not good enough and we would buy a new one from the estate. Nothing in the will requesting a new headstone but as we were all upset anyway no-one argued.
**Just wants to pass some time without any hassle**
Originally posted by ILrush: Easier said than done!! This is family I am talking about and the eldest is the one being the pratt so nothing new there then. He decided as we came away from the hospital that the old headstone on the grave was not good enough and we would buy a new one from the estate. Nothing in the will requesting a new headstone but as we were all upset anyway no-one argued.
We've got similar problems now with my mother in laws estate hubby and sister in law executors, but sister in law taken over the selling of the house and not informing hubby what's going on it's very stressful and upsetting
I have every sympathy with you both - I have just been through the same thing. My sisters were executors of my fathers will and they told me nothing at all about the will until 6 months after his death. I live abroad so was not able to chase after the facts but after repeatedly asking what was happening I was told that the family home had been left equally to the 3 of us and THEY were selling it. They did so and gave me 1/3 of the selling price - which I never saw any paper work for - never signed anything so don't know if I was ripped off. When I asked who had bought it I was told that one sister had and she was keeping all the contents so that it would be as it was left. Even after another 4 months I am still angry and upset by them and won't e-mail or phone either of them.
Surely as someone that was named in the will you should have access to the solicitor that dealt with it and be able to get the details?
I don't know anything about how wills work really but if I were you I would want to know the facts of what went on (as opposed to the glossed over cover-ups provided by your sisters). At least that way you're not being eaten up by suspicion and wondering.
