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Any reason to make a will ? - Carers UK Forum

Any reason to make a will ?

Share your ideas about the practical side of caring.
If there is an estate to be inherited by two adult children but two that won't be falling out or argue about things (if such siblings exist LOL) and clearly no other beneficieries are there any reasons or advantages to making a will ?- other than lining the solicitor's pockets.
Henrietta, I don't think lining a solicitor's pockets would be a good reason.
The potential testator ought to be clear on what happens without a will, for example if the two siblings predecease the testator - they could both be killed in an accident, unfortunately. In addition, a solicitor ought to be able to explain the answer to your question in the specific circumstances, for instance with regard to tax. I suppose you could have a handwritten will with two witnesses, since it doesn't sound as if there will be serious problems. But actually it's impossible to answer your question without specific private details of the particular case.
Thanks for reply Greta
I agree with Greta - it is important to make a will for the reasons she states; also if there isn't a will then it will take a lot longer for the estate to go through probate. If the total estate is likely to exceed the IHT limit then making a donation to a charity can reduce the overall amount as the willed sum is deducted before the IHT is calculated.

There is no real need to use a solicitor, you can buy simple will forms at branches of W H Smith which include basic instructions on it should be completed,alternatively some charities offer a "Make A Will" day free of charge.Alternatively Citizens Advice offer assistance with making a will (and I think it's free too)
https://www.citizensadvice.org.uk/relat ... lls/wills/
Thank you Susie
I am just checking i haven't missed anything obvious.
A basic will is very cheap to make -either using a standard form or by a local solicitors. It is money well spent: and make out a Power of Attorney at the same time: that is even more useful, even in very simple cases.
My mum and dad made "mirror" wills. Everything to each other, then when the survivor died, the proceeds to be split equally between their 3 children. Elder brother died, so without a change, his wife would have inherited everything. She had made his life hell, so Mum didn't want her to get anything, so amended the will so his share went directly to his children. Without a will, she would have got all of his share.
It's really important that consideration is given to what happens if a beneficiary dies. I know of several cases where a child has died before a parent and it's caused huge problems. In one case, involving a business valued well over £1m, the surviving daughter in law was totally stitched up.
Would dad like you to receive everything if a child or sibling dies first?
It's really, really important that the wishes are clear. I pay a solicitor for legal advice, because in my opinion I'd rather spend a bit of money trying to make sure that it's all done properly, than lots of money spent trying to resolve a situation which, with a bit of advice, could have been avoided completely.
I echo BB's concern about a child pre-deceasing a parent. My in-law's will, under Scottish law (which I THINK says you can't disinherit children!)(I don't agree with that!), basically left their estate between their two sons, but was worded such that a surviving son got everything, and made NO ALLOWANCE for the decesased son (my husband) having in the meantime had children! So, had the will stood, when my MIL dies, everything would have gone to her surviving son in the USA, and nothing to my son at all - PLUS I'm the one that is doing all the care for my MIL!!!!!

Luckily, MIL's dementia was not so advanced that she could not redraw her will in Scotland a few years ago, to take into account her son's death, and now split her estate between her surviving son (NOT divided amongst his two daughter's either), and my son, so each gets half.

(That said, it's theoretical anyway, as MIL is burning through her money in her care home, and I doubt there'll be anything left except what's under the £23k threshold!) (if that)

My solicitor was shocked at the 'sloppy' wording of the original will, that did not make allowance for either of the two sons either (a) dying or (b) having had children before they died.
are there any reasons or advantages to making a will ?- other than lining the solicitor's pockets.
It's worth mentioning that if you use a solicitor to make your will you don't have to have to have said Solicitor as Executor of the will and you don't have to let them keep it (for 'safekeeping') - they will charge for both services, quite heavily if they execute a will ! You can name anyone as executor and you can keep the will yourself.

As "all my worldly possessions" (apart from a couple of charitable bequests) are split equally between my nieces (and then the great-nieces and great-nephews should one of them die before me) I have named their husbands as joint executors and my will is kept with other 'family' papers in a safe place at home. When I moved here I made a new will through my solicitor and, if memory serves me correct, the charge was under £80 - small price for peace of mind !